What's causing the decline this time?

[Shasha80]

Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?

There's no FOMO,no bullish news,nothing.Some traders got tired of waiting,so they sold some Bitcoins.That's why the Bitcoin price goes down a little bit.The current market demand for Bitcoins is low,so every time the amount of sellers increases the price will go down a little bit.I think that this is normal for the summer season,so there's no reason for pessimism or panic.The bulls will wake up during the fall and the winter.
I don't see any major FUD news about Bitcoin in the last few weeks.This is also a good sign.The FUD army will most likely wait for the Bitcoin price to reach a new ATH.

Some investors seem to be tired of waiting for Bitcoin prices to rise and start selling their Bitcoin little by little. Now that the Bitcoin price has
dropped below $30k, I predict that there will be panic selling in the near future, even though there has been no FUD for the past few weeks.
However, seeing the Bitcoin price drop below $30k, this is enough to make some investors worried. In fact, if we look at the history of Bitcoin
movement, the current situation has repeatedly happened to Bitcoin. So we should be patient with the current bad market, because usually
near the end of the year Bitcoin will be bullish again.

[1714162890]

1714162890

[ultrloa]

Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?

There's no FOMO,no bullish news,nothing.Some traders got tired of waiting,so they sold some Bitcoins.That's why the Bitcoin price goes down a little bit.The current market demand for Bitcoins is low,so every time the amount of sellers increases the price will go down a little bit.I think that this is normal for the summer season,so there's no reason for pessimism or panic.The bulls will wake up during the fall and the winter.
I don't see any major FUD news about Bitcoin in the last few weeks.This is also a good sign.The FUD army will most likely wait for the Bitcoin price to reach a new ATH.

Some investors seem to be tired of waiting for Bitcoin prices to rise and start selling their Bitcoin little by little. Now that the Bitcoin price has
dropped below $30k, I predict that there will be panic selling in the near future, even though there has been no FUD for the past few weeks.
However, seeing the Bitcoin price drop below $30k, this is enough to make some investors worried. In fact, if we look at the history of Bitcoin
movement, the current situation has repeatedly happened to Bitcoin. So we should be patient with the current bad market, because usually
near the end of the year Bitcoin will be bullish again.

Expected to see more panic seller going to dump their bitcoin since imagine how huge the amount we can lost if the dump continue, I really experience that before so I really don't blame people since seeing the value of your assets  declining continuously is really stressful so its good to get rid of it if we see huge decline nearly coming  due to big fuds.  The only thing wrong there if we don't do buy backs after the dump happen since we will lose the chance to earn when market is at the cheaper price.

[seramania]

Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?

this is purely a correction. China may not even be one of the main factors for the decline, because this decline is purely a market response. So don't make assumptions about things that aren't certain. better now is the time to get profit from this decline and certainly in the future it will be able to increase

[Blowon]

I think it's just a whale game, whatever FUD news we hear now it's just a whale game, because they're holding back so that prices don't go up just yet, but it's going to be soon besides, it's not going to be long.

[iv4n]

I think it's just a whale game, whatever FUD news we hear now it's just a whale game, because they're holding back so that prices don't go up just yet, but it's going to be soon besides, it's not going to be long.

Well, we can guess the reasons behind this falling down, but I think it's pointless, simply because Bitcoin is doing this for years! Probably big players have their fingers in this, but I am sure there are other factors as well!
Anyway, it's a good time for stacking sats at a cheaper price! And I believe we didn't hit the bottom yet, I expect the price to fall a bit more... it always happens around the summer, and when the summer ends we can expect some uptrend!

[ShowOff]

Expected to see more panic seller going to dump their bitcoin since imagine how huge the amount we can lost if the dump continue,

I think it is a natural thing experienced by most trader. Downturn often result in them having to sell all or some of their asset just to secure capital.

The only thing wrong there if we don't do buy backs after the dump happen since we will lose the chance to earn when market is at the cheaper price.

Buyback after price correct is a strategy to recover losses if the trader has sold all his asset during a downturn. This has been done by many trader and is probably a common thing for most of them. But if they have money in reserve while they are not selling the asset during a correction, then they can also buy more for a chance to recover losses faster if the price rise again.

[marine4u]

I think it's just a whale game, whatever FUD news we hear now it's just a whale game, because they're holding back so that prices don't go up just yet, but it's going to be soon besides, it's not going to be long.

Bitcoin has had natural responders to GBTC, but some have relied on the media to boost their short positions. Best, stop working observant to the media and just accumulate on the right price to buy and accumulate. That's the best I'm doing so far. Bitcoin has sorted through the bear field, it will definitely be earlier in the entry.

[777Jolami]

We are still herding into the bear market, the unlocking of GBTC at this stage further accelerates the position of the bears that can move and rally to re-create the market.  If there is strength at $29k for an extra day, we will be looking for a bear market cycle break.  I believe the buying base is getting good output from GBTC with great effort
The actions of short selling and trying to suppress the media are creating pressure, I will unfollow them.  Lol

[uneng]

Some people said the decline happened due to the fear of Delta variation of coronavirus and its impacts on the recovery of global economy that will take more time to happen. However, it doesn't make much sense, because when investors are fearful of the traditional financial system bitcoin tends to increase in demand, like we saw last year.
Probably investors are just fearful of seeing their bitcoin investments go even deeper taking too long to recover later, so they prefer to guarantee their profit for now while it's still possible. Anyway the main cause of all these new drops we are seeing daily is China and their persecution against mining business. That is the root of the problem.

[rozak]

We are still herding into the bear market, the unlocking of GBTC at this stage further accelerates the position of the bears that can move and rally to re-create the market.  If there is strength at $29k for an extra day, we will be looking for a bear market cycle break.  I believe the buying base is getting good output from GBTC with great effort
The actions of short selling and trying to suppress the media are creating pressure, I will unfollow them.  Lol

however, the market has held out for too long. we can't continue to hold on in this rally, dumps will definitely still be needed for better market creation in the future.
we know how too many people are already waiting for the correction to happen. and I think now is the right time. we will soon be in the next cycle.

[Core.i7]

Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?

Do you we always need the news to pump or dump the market. I think bitcoin went up to 60,000K way too quickly and its needs a healthy correction and that's what we are witnessing right now.

[TopTort777]

Isnt it oil prices, that influenced on price again? https://markets.businessinsider.com/commodities/oil-price?type=wti <— check them by yourself. Its price has dumped for 6-8% in two days. Even though someone count that these two are not connected, I think thia is the reason crypto reacted with drop on world economy drop.

[Shasha80]

Some investors seem to be tired of waiting for Bitcoin prices to rise and start selling their Bitcoin little by little. Now that the Bitcoin price has
dropped below $30k, I predict that there will be panic selling in the near future, even though there has been no FUD for the past few weeks.
However, seeing the Bitcoin price drop below $30k, this is enough to make some investors worried. In fact, if we look at the history of Bitcoin
movement, the current situation has repeatedly happened to Bitcoin. So we should be patient with the current bad market, because usually
near the end of the year Bitcoin will be bullish again.

Expected to see more panic seller going to dump their bitcoin since imagine how huge the amount we can lost if the dump continue, I really experience that before so I really don't blame people since seeing the value of your assets  declining continuously is really stressful so its good to get rid of it if we see huge decline nearly coming  due to big fuds.  The only thing wrong there if we don't do buy backs after the dump happen since we will lose the chance to earn when market is at the cheaper price.

There's nothing wrong with selling Bitcoin now, because some people are stressed seeing their assets go down. Therefore, the function of
the stop-loss feature is to prevent us from experiencing huge losses. But don't forget to do buy backs, when the Bitcoin price drops even lower.
In order to cover the previous loss, but because I bought it from the start with the extra money I had. So I prefer to hold the Bitcoin I have,
and wait until the Bitcoin price recovers again. In the end, everyone has their own strategy, please use it according to what we think is effective.

[Reatim]

Isnt it oil prices, that influenced on price again? https://markets.businessinsider.com/commodities/oil-price?type=wti <— check them by yourself. Its price has dumped for 6-8% in two days. Even though someone count that these two are not connected, I think thia is the reason crypto reacted with drop on world economy drop.

Sad to See that after many months now Finally Bitcoin stays Below 30k for 2 straight days.

https://coinmarketcap.com/currencies/bitcoin/markets/

Things that does not happened before even though it drops below 30k for 2 times recently yet climbs back again in a matter of hours.

But this time looks like it will stays for long.

[ChaoChibai]

I am also so desperate to see the market now, especially this month and the market is all red graphics. This is really bad reality to face but we can not do anything to change the market and the market is not under our control. It is naturally up and down by its own. If we want to make it clear I think there are a lot of bad news that was going on about bitcoin become the root cause of this bear market. But i just want to remind that bear market will not be forever.

[slaman29]

Sad to See that after many months now Finally Bitcoin stays Below 30k for 2 straight days.

Things that does not happened before even though it drops below 30k for 2 times recently yet climbs back again in a matter of hours.

But this time looks like it will stays for long.

Don't be sad. Be happy that those of us who don't have enough have longer to accumulate. At least, this is how I see it all the time. It's sad not to be holding coins worth 100k but it's even sadder not to even have a single BTC if it reaches that amount:)

So keep stacking at these low prices while waiting for the desired target. Keep our spirits up everyone:)

[conected]

China is usually the main cause of the decline from last year until now, this happens because China has the largest bitcoin mining company in the world, and now that it is closed by their country, it causes bitcoin to go down very far.

- I think most of us only hear about the closure of some bitcoin mining factories in China but in reality, we don't have a direct presence in this country and it's all just announced by a few media, and my doubt here is whether these factories have closed or just rumors while these factories are still operating. Just link from the sharp rise of bitcoin like a bubble and need a needle to pierce it, this story will become relatively logical, sometimes here are some fake scenes to create downfall and direct suspicion towards China

[LimLims]

Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?

China and Musk are to be considered the main culprit.
For this two, BTC almost dropped half.
And as musk has a huge followers, so they are diverted to altcoins by himself only.
Moreover as the price went down, so people aren’t talking too much now about BTC.
This is leading currently to the downfall of the coin.

[randegibran]

maybe there are many factors that greatly affect the value of hitcoin such as for example many rich people who buy bitcoins in large quantities with the money they currently have, plus there are bans from several countries against bitcoin which will nothing but make the price bitcoin is getting weaker to its lowest point price, but we are very sure this has happened with bitcoin and we are very confident bitcoin will soon recover back to its normal price again

[slaman29]

China and Musk are to be considered the main culprit.
For this two, BTC almost dropped half.
And as musk has a huge followers, so they are diverted to altcoins by himself only.
Moreover as the price went down, so people aren’t talking too much now about BTC.
This is leading currently to the downfall of the coin.

So if you believe Musk is the culprit, are you also hailing him now as a hero for his comments yesterday on BTC? And is he fully and totally responsible for Bitcoin's good rise right now?

If you blame/credit someone, you have to be consistent. Can't pick sides only on one direction of the market:)