Pigster Crypto

Of course the selling pressure is coming from the U.S. as can be seen from the Coinbase Premium chart.

If you were wondering what is causing the sudden $BTC price drop. The US first quater report came out today, U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace.

Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace, below the 2.4% estimate.

The personal consumption expenditures price index, a key inflation variable for the Federal Reserve, rose at a 3.4% annualized pace for the quarter, its biggest gain in a year.

“This was a worst of both worlds report – slower than expected growth, higher than expected inflation,” said David Donabedian, chief investment officer of CIBC Private Wealth US.

Also Google & Microsoft Q1 earnings after the markets close today.

Interesting to see what the market will do with this today.

As is common with significant events in the cryptocurrency space, the market can experience considerable manipulation. It's crucial to understand that while the halving event tends to generate bullish sentiment leading up to it, the event itself may not immediately impact market dynamics. However, within the Bitcoin protocol, the halving holds profound significance. Its effects are gradually integrated into the market over time, block by block, as miners continue to validate transactions at reduced reward rates. So in our opinion, there still will be shake-offs before we lift off.

Halving is just 3 days away and of course we are seeing market manipulation.

We usually see very big returns in a year after halving, but also see a lot o price manipulation and volatility in the first month after halving.

We are not saying the markets can't go lower, but we are saying that don't sell your crypto at a loss. The best is yet to come, and crypto summer is right behind the corner.

This high volatility is to be expected before major events in crypto. Don't let yourself be shaken out, because you'll probably regret it. Coinbase Premium still positive. Staying in the market, we could continue to go lower, but the risk of missing out is to big.