Why Is Bitcoin Dropping Today? Recent Dip Fueled by Whale Dump, Earnings Awaits, PCE Inflation Data Eyed

The recent selloff was sparked by a massive dump by a whale one of the leading crypto exchanges recently. In addition, recent reports indicate

output: A recent massive dump by a whale on one of the leading crypto exchanges triggered the selloff. Moreover, investors are staying on the sideline ahead of big earnings that are set to pave the way for the US stock market.

Traders Await Nvidia And Other Earnings Results

Investors are pausing ahead of big tech earnings this week, including chipmaker Nvidia, which is set to announce its Q2 FY25 financial results on August 28, after the market closes. Other big techs like Salesforce, CrowdStrike, and HP Inc., among others, will also report their earnings on Wednesday.

As such, investors are seeking more clarity before placing their bets on riskier assets like Bitcoin and the overall crypto market. A recent CNBC report, citing Wolfe Research, stated that Nvidia earnings will be crucial in setting the market sentiment this week.

US PCE Inflation Data To Impact BTC Price

Traders are also awaiting the US PCE data to assess the latest inflationary pressures in the country. While there are increasing speculations of a potential rate cut by the US Federal Reserve, especially after Jerome Powell’s speech last week, investors will be keeping a close watch on the upcoming economic figures.input: A recent massive dump by a whale on one of the leading crypto exchanges triggered the selloff. Moreover, investors are staying on the sideline ahead of big earnings that are set to pave the way for the US stock market.

Traders Await Nvidia And Other Earnings Results

Investors are pausing ahead of big tech earnings this week, including chipmaker Nvidia, which is set to announce its Q2 FY25 financial results on August 28, after the market closes. Other big techs like Salesforce, CrowdStrike, and HP Inc., among others, will also report their earnings on Wednesday.

As such, investors are seeking more clarity before placing their bets on riskier assets like Bitcoin and the overall crypto market. A recent CNBC report, citing Wolfe Research, stated that Nvidia earnings will be crucial in setting the market sentiment this week.

US PCE Inflation Data To Impact BTC Price

Traders are also awaiting the US PCE data to assess the latest inflationary pressures in the country. While there are increasing speculations of a potential rate cut by the US Federal Reserve, especially after Jerome Powell’s speech last week, investors will be keeping a close watch on the upcoming economic figures.

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