Bitcoin

Momentum

Million

<p>The crypto market is going through a tumultuous period, marked by a new significant drop in prices. According to the latest reports, more than $161 million have been liquidated due to the continued decline in the price of bitcoin, which has dropped by nearly 3% over the past 24 hours. This situation has raised concerns among investors and market analysts.</p>
<h2 id="h-bitcoin-drops-3-and-161-million-evaporates">Bitcoin drops 3% and $161 million evaporates!</h2>
<p>The crypto market, dominated by Bitcoin (BTC), recorded a nearly 3% decline over the past 24 hours, reaching around $2.11 trillion this Monday, September 2. After ending the previous month below the crucial support zone between $58,000 and $60,000, bitcoin started this week with a bearish trend of 3%, trading around $57,343.</p>
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<p>With a <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> showing short-term bearish sentiment, on-chain data reveals that many investors are pulling out of the crypto market to secure their capital in stablecoins. Bitcoin’s fear and greed index has dropped to 26%, reflecting intense fear of a further price drop. Additionally, the Exchange Volume Momentum indicator shows a continued decrease in trading activity, indicating a reduced interest of investors in Bitcoin.</p>
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<h2 id="h-could-the-fed-save-btc">Could the FED save BTC?</h2>
<p>The current drop in Bitcoin could very well be attributed to the “<a href="https://www.cointribune.com/en/bitcoin-in-september-will-the-bearish-curse-strike/" target="_blank" rel="noopener noreferrer nofollow">September curse</a>,” a trend observed since 2013 where Bitcoin often records losses during this month. Investors fear a repetition of these historical declines, thereby reinforcing the bearish sentiment in the market.</p>
<p>The reduction in interest rates by the FED scheduled for this September could potentially support Bitcoin’s price. A rate cut could increase liquidity in financial markets, encouraging investors to turn to riskier assets like Bitcoin. However, the exact impact remains uncertain and will depend on the overall market reaction.</p>
<p>The crypto market is going through a period of increased volatility, with Bitcoin declining and investors turning to stablecoins. <a href="https://www.cointribune.com/en/the-fed-caves-in-and-vows-to-lower-its-rates/" target="_blank" rel="noopener noreferrer nofollow">The FED’s decisions</a> and historical trends in September could influence prices, but uncertainty remains high. At the time of writing this article, Bitcoin is up by 0.37%, currently trading at around $57,523.</p>

Bitcoin Down 3% In 24 Hours: $161 Million Liquidated!

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