Leading cryptocurrency Bitcoin (BTC), In the decline that started from $ 48,000, it first saw $ 46,000, then $ 44,000 and now $ 40,200.
This unexpected big drop of the Bitcoin price is actually in the financial markets. EvergrandeGroup It may be related to fear.
It is reported that Evergrande, one of the giant companies of China, is currently in a debt pit of 300 billion dollars, and it is feared that it will cause a crisis similar to the economic crisis in 2008.
Bitcoin, along with all traditional financial markets, is also declining due to this.
Bitcoin Exits Continue
Despite this, an important indicator about Bitcoin still gives an optimistic signal. In particular, Bitcoin exits on Coinbase Pro, that is, heavy BTC withdrawals, continue and this indicates that people are buying more BTC.
So what exactly do experts think about this? Looking at the trading rates and positions of the top traders on Binance, it can be clearly seen that long positions still lead.
In addition, investors on OKEx appear to have a similar stance.
Famous analyst Kaleo also stated in his live broadcast statement on the subject that it may be giving an opportunity to buy BTC from the bottom right now.
The short and long position rates of Binance’s leading traders actually point to this. Despite this, losing the support of $ 40,000 of Bitcoin may drag the situation in the market to a much worse position.
For this reason, spot trading is recommended.