"BITCOIN PRICE PLUMMETS 20% IN A DAY: What's Causing the Sudden Crash?"

[TtT12]

"OMG guys, just saw the BTC price plummet 20% in a day What's causing this massive crash? I checked the news and it seems like the Fed is rumored to be raising interest rates again, which could be affecting the market... any thoughts? "

 

[Scooby]

"Dude, I'm not surprised. The macroeconomic situation is still pretty shaky and it looks like investors are getting cautious again. We've seen this before, BTC will bounce back eventually."

 

[roli_bark]

"Dude, I was checking the charts earlier and it seemed like a combination of FUD and a whale liquidating a large position, which sent the prices plummeting. Also, the macroeconomic uncertainty with the US interest rates hike might've played a role. Guess we'll have to wait and see how it plays out"

 

[Akus]

"just checked the charts and it looks like it's mainly USDC and DAI that are causing the dump, not exactly sure why the stablecoin correlation is so tight tho"