Why today the price of Bitcoin fell by ~7% - to $66 thousand.The sharp drop in Bitcoin by 5% to $67 thousand today can be explained by several factors:
The US jobs report showed an increase of 272,000 jobs in May, indicating an overheating economy and reducing the likelihood of an interest rate cut this week.
The reaction to macroeconomic data caused the liquidation of traders' positions amounting to more than $250 million, as a result of which the price of BTC rose to $69 thousand - this is good news.
After 5.5 years, a Bitcoin whale woke up and transferred 8,000 BTC ($535.6 million) to exchanges.
Yesterday, Bitcoin miners sold 1,200 BTC, which was the largest daily sale since the end of March.
Despite the fall, there is an increase in calls to buy Bitcoin on social networks. Historically, when sell calls close the gap with buy calls, there is panic and FUD in the market, often leading to a cryptocurrency bounce.
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CRYPTO DOPEMAN
