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<ul>
 <li>Ash Crypto outlines Bitcoin’s decline reasons: geopolitics, Fed policy, retail greed.</li>
 <li>Bullish breakout anticipated due to consolidation pattern and potential short squeeze.</li>
 <li>Altcoins are set to benefit from Bitcoin’s potential rally, presenting investment opportunities.</li>
</ul>
<p>In a recent analysis, renowned crypto trader <a href="https://twitter.com/Ashcryptoreal" target="_blank" rel="noopener noreferrer nofollow">Ash Crypto</a> sheds light on the factors contributing to <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s ongoing downturn</a>, providing insights into the market sentiment and future prospects for the pioneer cryptocurrency.</p>
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   <p lang="en" dir="ltr">Why Is <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Dumping?<br>&nbsp;<br>1) Iran-Israel War Situation&nbsp;<br>&nbsp;<br>Just a few minutes ago, the former Mossad intelligence chief said that they could strike Iran nuclear facilities.&nbsp;<br>&nbsp;<br>This is a massive statement and could even lead to the WWIII situation.&nbsp;<br>&nbsp;<br>This is causing panic in the… <a href="https://t.co/S49XdwFXvo" rel="noopener noreferrer nofollow">pic.twitter.com/S49XdwFXvo</a></p>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1780621191541108779?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 17, 2024</a>
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<p>In detail, he marks the first to be caused by geopolitical tensions escalating. Specifically, Ash Crypto points to escalating tensions between Iran and Israel as a significant driver of market panic. Recent statements from a former Mossad intelligence chief hinting at potential strikes on Iran’s nuclear facilities have rattled investors, sparking fears of broader conflict and a possible World War III scenario. Such uncertainty has led to a sell-off in Bitcoin and other cryptocurrencies.</p>
<p>Secondly, he highlights the Federal Reserve’s policy shift. He cites the Federal Reserve Chair Jerome Powell’s recent hawkish stance on inflation and interest rates as another factor impacting Bitcoin’s decline.</p>
<p>Powell’s remarks indicating a reluctance to address inflation concerns promptly have dashed hopes of an imminent rate cut, with the possibility of a rate hike gaining traction among investors. This shift in monetary policy outlook has added pressure on Bitcoin prices.&nbsp;</p>
<p>Lastly, he draws light to retail investor greed. He sees this behavior as a contributing factor to Bitcoin’s downturn. Despite recent corrections, retail traders continue to exhibit excessive greed, eagerly buying every dip with high leverage.</p>
<p>The persistence of positive funding rates reflects this sentiment, signaling a reluctance among investors to adopt a more cautious approach. Until a significant reset occurs, the <a href="https://cryptonewsland.com/what-caused-bitcoins-sudden-15-decline/" target="_blank" rel="noopener noreferrer nofollow">market may continue its downward trajectory</a>.</p>
<p>Despite the current downturn, Ash Crypto remains optimistic about Bitcoin’s future, anticipating a bullish breakout in the near term. Highlighting a consolidation pattern within a bullish falling wedge over the past 13 days, the trader suggests that substantial liquidity is accumulating on the upside.</p>
<p>Ultimately, he says this, coupled with the potential for a short squeeze, could fuel a significant price rally in Bitcoin. Moreover, the <a href="https://cryptonewsland.com/bitcoin-halving-unveiling-altcoin-opportunities-amid-market-shifts/" target="_blank" rel="noopener noreferrer nofollow">positive outlook for Bitcoin</a> is likely to benefit altcoins as well, presenting opportunities for investors across the cryptocurrency market.</p>
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<p>The post <a href="https://cryptonewsland.com/popular-crypto-analyst-highlights-3-reasons-behind-bitcoins-brutal-dip/" rel="noopener noreferrer nofollow">Popular Crypto Analyst Highlights 3 Reasons Behind Bitcoin’s Brutal Dip</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Popular Crypto Analyst Highlights 3 Reasons Behind Bitcoin’s Brutal Dip

Crypto News Land

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