Experts of the trading platform QCP Capital identified the reason for the fall in the Bitcoin rate and the cryptocurrency market as a whole. According to them, a significant correction in the quotes of the first cryptocurrency and other virtual coins followed the statement by the US Federal Reserve System (FRS) about revising the policy on reducing the interest rate next year.
However, analysts believe that the regulator's announcements did not become a catalyst for the fall in the Bitcoin rate, but merely a consequence. They believe that the main reason for the collapse in quotes was the overly optimistic positioning of traders and investors after the US presidential election in November.
Cryptocurrencies have been on a tear, making the market too vulnerable to any negative news. According to them, the fall in the value of Bitcoin below $95,000 has caused real panic among retail and institutional investors, and spot bitcoin ETF The US showed a sharp outflow of capital.
It should be noted that a few days ago, QCP Capital experts warned that the crypto market could see sharp price jumps for leading cryptocurrencies in the near future. This time, their forecast turned out to be correct, and the value of Bitcoin, like many other coins, began to fall.