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Why did Bitcoin dump hard today? 📉
$BTC first pumped hard to around $82K because traders got excited about positive crypto regulation news (CLARITY Act progress).
But once that news actually moved forward, many traders started taking profits. This is what traders call “sell the news”. Price goes up on hype, then drops when the event actually happens.
Then the second hit came.
Markets were also expecting positive tariff news from the China summit, but Trump said there were no such discussions. That disappointed investors, US markets dropped, and crypto followed.
So Bitcoin dumped because of profit-taking + bad macro news + panic liquidations.
This is crypto. It moves fast 😅