Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-drive-bitcoin-price-down/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Drive Bitcoin Price Down</a><br></p>
<p style="text-align: justify">The leading cryptocurrency dropped below $61,000 as expected. This has been happening for months. Increased sales on <a href="https://en.coin-turk.com/crypto-market-update-former-binance-ceo-faces-legal-troubles/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> overshadow US-based demand, naturally driving the price down. So, what’s the latest in the cryptocurrency markets? Here are the details.</p>
<h2 style="text-align: justify" id="why-is-bitcoin-dropping">Why Is Bitcoin Dropping?</h2>
<p style="text-align: justify">The dollar index hit a 52-week low and is about to fall below 100. This indicates a weakening dollar and upcoming <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">interest rate</a> cuts. Normally, with the DXY this weak, the BTC price should be soaring. However, that’s not happening. The intense interest in futures has led investors to believe that every upward attempt will fail.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-383720 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/DXY_2024-08-28_00-45-36.png" alt="" width="1814" height="836"></p>
<p style="text-align: justify">Therefore, investors persistently rush to sell at every peak. Following the last resistance attempt at $65,000, the expected happened again, and as we’ve experienced for months, BTC quickly turned downward with rapid sales.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-383722 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-28_00-49-08.png" alt="" width="1815" height="836"></p>
<p style="text-align: justify">If we start seeing closures below $61,700, this could pave the way for a new downward movement towards $55,000. The price is already at the $60,100 threshold. Sales for altcoins will likely accelerate in the coming minutes. Investors should remain cautious against sudden fluctuations in altcoins.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-drive-bitcoin-price-down/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Drive Bitcoin Price Down</a></h5>
<p>The post <a href="https://en.coin-turk.com/investors-drive-bitcoin-price-down/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Drive Bitcoin Price Down</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Investors Drive Bitcoin Price Down

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