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The crypto market is collapsing brutally: I am disgusted by this manipulation!
The plunge of cryptocurrencies after the economic data outrages me
Yesterday, I helplessly witnessed a dismal spectacle. Our dear Bitcoin, which had just proudly surpassed 100,000 dollars, was ruthlessly slaughtered. And of course, it dragged down all the other cryptos with it! This collective bloodbath caused over 150 million dollars in liquidations. I am disgusted.
My BTC has collapsed by 4% in 24 hours, struggling painfully around $97,000. ETH took a hit of 8%, SOL crumbled by 7%, and even XRP plummeted by 5%. Let's not even talk about AVAX, DOGE, and LINK which were demolished by over 9% each!
These massive liquidations make me want to vomit
This "correction" as they politely call it has triggered a carnage. Data shows 388 million dollars liquidated in 24 hours, including 230 million in just 4 hours! Mainly long positions for 212 million. Nearly 130,000 traders have been slaughtered.
Even crypto-related stocks have taken a hit - MicroStrategy and exchange platforms down 8-9%, miners down over 6-7%. It's a orchestrated bloodbath!
The real reason: the American economy and its rigged data!
As analyst Miles Deutscher explains: "The main reason: 'good' US data has led to a rise in bond yields. ISM above expectations, JOLTS job openings on the rise... We are in a phase where 'good news is bad news'". What absurdity!
The Bureau of Labor Statistics announces 8.1 million job openings at the end of November, the highest since May 2023. And there it is, the yield on 10-year Treasury bonds climbs to 4.69%!
These central bankers are the real enemies of cryptos
Analysts warn that these "good" economic data push the Fed to keep its rates high for longer. The same strategy to crush assets like Bitcoin!
Despite their so-called third rate cut, they will reduce less than expected in 2025. Hypocrites! Historically, rate cuts benefit BTC, while increases weigh it down. Coincidence? I doubt it!
As even Thomas Tzitzouris from Strategas admits, this situation is toxic for all assets. Cryptos are deliberately placed in a "danger zone".
The future of our market depends on these technocrats and their manipulative monetary policies. It drives me crazy!
#cryptocrash #Bitcoin #cryptocurrencies #CryptoMarket #blockchain
Warning: These opinions are my own and do not constitute financial advice. Investing in cryptocurrencies carries significant risk of loss.