Bitcoin

Show

Captain

PEPE

POPCAT

<p>The crypto market has had a downturn as <a href="https://captainaltcoin.com/this-bitcoin-indicator-points-to-more-selling-pressure-on-btc-price/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> dropped below $56K. Moreover, analyst Ash Crypto noted that BTC hit a weekly low of $55.6K.&nbsp;</p>
<p>Several factors contributed to this sharp decline, echoing broader trends in global markets.</p>
<h2 class="wp-block-heading" id="strong-us-stock-market-decline-adds-pressure-strong"><strong>US Stock Market Decline Adds Pressure</strong></h2>
<p>The analyst notes that a drop in the US stock market occurred the same time that Bitcoin’s value fell. The NASDAQ fell by 3.26%, while the S&amp;P 500 fell by 2.1%. Nvidia also saw a nearly 10% decline on rumors of a DOJ subpoena.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">WHY BITCOIN DUMPED BELOW $56K?<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> BROKE THE $56K MARK TODAY TO HIT A NEW WEEKLY LOW OF $55,600<br><br>HERE ARE SOME OF THE REASONS BEHIND BTC DUMP <br><br>1) THE US STOCK MARKET CRASH<br><br>S&amp;P 500 DUMPED 2.1% TODAY <br><br>NASDAQ DUMPED 3.26%<br><br>NVIDIA DUMPED NEARLY 10% DUE TO DOJ SUBPOENA <br><br>THE… <a href="https://t.co/SpmRTKCLpn" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/SpmRTKCLpn</a></p>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1831202559735865484?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>This downturn in the equity markets is attributed to an economic slowdown, specifically concerning job data, which triggered panic among investors. As Bitcoin and the stock market increasingly correlate, BTC followed this downward trend.</p>
<p><a href="https://markets.businessinsider.com/news/stocks/stock-market-prediction-yen-carry-trade-bank-of-japan-rates-2024-9" target="_blank" rel="noopener noreferrer nofollow">The Japan stock market</a> further compounded the pressure on global financial markets. The Nikkei 225 dropped nearly 4%, influenced by ongoing volatility in the yen carry trade.&nbsp;</p>
<p>While this trade has yet to fully unwind, it contributed to the drop in Japanese stocks, which in turn dragged down other markets globally, including crypto. The global financial uncertainty spread, pushing Bitcoin prices lower as investors braced for further losses.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-etfs-outflow-strong"><strong>Bitcoin ETFs Outflow&nbsp;</strong></h2>
<p>Apart from the stock market decline, there was a $288 million withdrawal from Bitcoin ETFs, which was the largest in the previous four months.&nbsp;</p>
<p>The substantial outflow implies that institutional investors might be making portfolio adjustments or getting ready for more volatility. These actions tend to exert downward pressure on Bitcoin’s price, as they signal lower demand and liquidity for the asset.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>Meet <a href="https://thepandaworld.com/en" target="_blank" rel="noopener noreferrer nofollow"><strong>PandaWorld</strong></a>, the new meme coin currently selling at <a href="https://thepandaworld.com/en" target="_blank" rel="noopener noreferrer nofollow"><strong><em>discounted presale prices</em></strong></a>! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/chainlink-nears-key-support-next-2-weeks-will-be-decisive-for-link-price/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Chainlink Nears Key Support: Next 2 Weeks Will Be ‘Decisive’ For LINK Price</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-massive-liquidations-amplify-the-drop-strong"><strong>Massive Liquidations Amplify the Drop</strong></h2>
<p>The sharp drop in Bitcoin’s price was also exacerbated by $170 million in long positions being liquidated within the last day. These liquidations occur when leveraged positions automatically sell off as prices drop, which leads to further downward momentum.&nbsp;</p>
<p>As exchanges engage in forced selling, this often amplifies price declines, creating a cycle of additional liquidations and more price drops.</p>
<p>Bitcoin’s performance in September has historically been weak, and the current market behavior continues this trend. However, investors are hopeful that as Q4 begins, the market will recover, aligning with past bullish trends during the final quarter of the year.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-price-dips-to-56k-heres-why-the-crypto-market-is-crashing-today/" rel="noopener noreferrer nofollow">Bitcoin Price Dips to $56K – Here’s Why The Crypto Market is Crashing Today</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Dips to $56K – Here’s Why The Crypto Market is Crashing Today

Table of Contents

CaptainAltcoin

Other articles published on Sep 4, 2024

EigenLayer rolls out 'major update' to restaking contracts

Bitcoin Slides 6% Below $60,000: Key Factors Behind the Recent Drop

Trump Family’s X Accounts Hacked, Fake Crypto Announcements Made

Brazil’s X ban: Are VPN users at risk for accessing the platform?

Uniswap Labs Agrees to $175,000 Settlement Over CFTC Charges

Ripple CEO Announces Imminent Launch of New Stablecoin RLUSD

Join our free newsletter for daily crypto updates!