Why Suddenly BTC & ALT Coin DUMP? Let's Figure it OUT!

Assalamu Alaikum friends,
Hope everyone is well and healthy. Manipulation has suddenly appeared in the crypto market. This may not be called manipulation. We can give it another name. As you all know, the crypto market is already full of volatility. Its future analysis is almost impossible. Still, investors try to understand its position. Crypto sometimes pumps and sometimes dumps. This results in the possibility of high profits and high losses very quickly. And this is the reason for crypto market volatility. Last June 7, 2024 saw a massive down in crypto, causing altcoins to drop in price massively. In today's blog, I will try to analyze the reasons for this down trend. Let's start without delay:-

Last June 7, 2024 saw a sudden dump of Bitcoin. And because of this dump, alt coins lose their value by 15-20%. This is causing widespread panic in crypto. Due to this dump, many traders went bankrupt in the market. They have lost all their assets and become destitute.

The reason for this dump is the sudden increase in the USD Dollar Index. Whenever the dollar index rises, cryptos see a dump. And when the dollar index drops, the crypto market pumps. As a result of this index, the price of gold in the market also fluctuates widely. If you look at the above screenshot, you can understand that the USD Dollar Index has suddenly increased, which has an impact on crypto.

Again, if you look at the above screenshot, it can be seen that when the USD Dollar Index suddenly increased, there was a dump in the crypto market. While this cryptocurrency market is dependent on various factors, the USD Dollar Index is one of them. Bitcoin is moving the market with sideways movement after a 2.5% dump.

Prediction:- Analyzing the above screenshot, it can be seen that Bitcoin failed to break the support line below. After crossing the support line, Bitcoin bounced back above the support line after a mild price recovery and has been moving above the support line ever since. Hopefully, the pump will appear in the crypto market again very soon.