Leading cryptocurrency Bitcoin (BTC), In the decrease that started from $ 48,000, you first saw $ 46,000, then $ 44,000, and now $ 40,200.
This big unexpected drop in the price of Bitcoin is really in the financial markets. EvergrandeGroup It can be related to fear.
Evergrande, one of China’s giant companies, is reportedly currently in a $ 300 billion debt pit, and is feared to trigger a crisis similar to the 2008 economic crisis.
Bitcoin, along with all traditional financial markets, is also declining because of this.
Bitcoin departures continue
Despite this, a major indicator on Bitcoin still gives an optimistic signal. In particular, Bitcoin exits on Coinbase Pro, that is, heavy withdrawals of BTC, continue and this indicates that people are buying more BTC.
So what exactly do the experts think about this? By looking at the trading rates and positions of the major traders on Binance, it can be clearly seen that long positions are still leading.
Furthermore, OKEx investors seem to take a similar stance.
Famous analyst Kaleo also stated in his livestream statement on the subject that he may be providing an opportunity to buy BTC from below right now.
The short and long position rates of the major Binance traders really point to this. However, losing Bitcoin’s $ 40,000 support may drag the market situation into a much worse position.
For this reason, spot trading is recommended.