Bitcoin Faces Major Decline Amid Macroeconomic and Geopolitical Tensions
8/5/2024 5:13:49 PM
According to @CCData_io, Bitcoin experienced a significant decline over the weekend due to unfavorable macroeconomic news related to the JPY-USD carry trade, geopolitical tensions in the Middle East, and large players liquidating their funds. This series of events triggered a liquidation cascade, causing Bitcoin's price to drop to approximately $48,200. (Source)
Bitcoin Middle East JPY-USD carry trade liquidation cascade