3 Reasons Why Bitcoin (BTC) Is Dropping Below $30,000

Moreover, the euphoria that the crypto market experienced back in June seems to be facing the reality check of decreased inflows. This has been accompanied by a cooling off of the decentralized finance and non-fungible token sectors, which had previously attracted significant investment and attention. Neither field is showing significant growth trends in terms of total value locked or inflows, indicating a potential shift in market sentiment.

On the positive side, Bitcoin's spot trading volume has risen for the first time in three months. However, it remains around historic lows, suggesting that market participants are taking a wait-and-see approach before committing further funds to the sector.

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