TL; DR
Full story
In the past week:
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BTC dropped from ~$70k to ~$64k
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ETH went from ~$3.6k to ~$3.4k
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While SOL dropped from ~$160 to ~$130
So what happened?
Was it the selling pressure from the European markets? The continued outflows coming from the Bitcoin ETFs? The lack of new stories?
These things all played a role, for sure.
But if you need a definitive answer – and apologies in advance for using technical language – but:
The vibrations are off.
That is to say, market sentiment is in the gutter right now, and people are not buying crypto in the volumes of a week ago.
The result is that prices fall.
The good news is: zoom out, this is all normal.
Historically, this point in the four-year crypto cycle is notoriously choppy – with prices swinging sideways within a certain range for months.
It’s boring, but we’re still on track for higher prices!