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<p>The price of Bitcoin has been going down again, and this has also <a href="http://Why Is The Crypto Market Down Today?" target="_blank" rel="noopener noreferrer nofollow">affected the price of many tokens</a> in the crypto market. Bitcoin, which was trading at around $64,000 a few days ago, has now dropped to around $58,000.&nbsp;</p>
<p>Ash Crypto, a crypto expert with more than 1 million followers on X, made a post to address the factors that are making the price of crypto go down again.</p>
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<h2 class="wp-block-heading" id="factors-affecting-bitcoin-price">Factors Affecting Bitcoin Price</h2>
<p>Let’s look at some of his thoughts in the following paragraphs.</p>
<h3 class="wp-block-heading" id="war-situation-in-russia">War Situation in Russia</h3>
<p><a href="https://x.com/Ashcryptoreal/status/1828688139373760680?t=-FKqjWj8oNsmZ_Q8woMEdA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Ash noted </a>that risk-on assets like Bitcoin are usually the first to be sold during wars. `There was a <a href="https://www.theguardian.com/world/live/2024/aug/21/russia-ukraine-war-live-kursk-moscow-drone-attack" target="_blank" rel="noopener noreferrer nofollow">drone attack on Russia</a>, which has increased the likelihood that the Russian-Ukraine war will escalate.</p>
<p><strong><em>Read Also:<a href="https://captainaltcoin.com/could-the-sec-appeal-the-ripple-victory-xrp-expert-weighs-in/" target="_blank" rel="noopener noreferrer nofollow"> Could the SEC Appeal the Ripple Victory? XRP Expert Weighs In</a></em></strong></p>
<h3 class="wp-block-heading" id="etf-outflows">ETF Outflows</h3>
<p>Bitcoin ETFs have also been experiencing major outflows, with a $127 million outflow yesterday alone. That was the highest daily outflow since August 6.</p>
<h3 class="wp-block-heading" id="market-manipulation">Market Manipulation</h3>
<p>Popular assets like <a href="https://www.etmoney.com/learn/stocks/nasdaq-100-versus-sp-500-which-index-is-better-for-investing-in-the-us/#:~:text=Nasdaq%20100%20and%20S%26P%20500%20are%20both%20popular%20large%2Dcap,as%20well%20as%20sector%20allocation." target="_blank" rel="noopener noreferrer nofollow">S&amp;P 500 and NASDAQ</a> pumped, but Bitcoin dumped. The expert calls this a clear sign of market manipulation.</p>
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<p>Some people are apparently trying to suppress the price of BTC. This could be because many institutions want to accumulate a lot of Bitcoin between $50,000 and $65,000.</p>
<p>The accumulation becomes more obvious when one considers BTC supply reaching new lows daily. Following this accumulation, the price of BTC could break out and start a rally. This could happen around the end of September.</p>
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<p>The post <a href="https://captainaltcoin.com/here-are-the-major-reasons-behind-the-ongoing-bitcoin-btc-price-dump/" rel="noopener noreferrer nofollow">Here Are the Major Reasons Behind the Ongoing Bitcoin (BTC) Price Dump</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here Are the Major Reasons Behind the Ongoing Bitcoin (BTC) Price Dump

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