BTC Investors Sell on Rallies Amid Recession Concerns
CryptoNewsTerminal Staff05 Sep, 2024
BTC Investors Sell on Rallies Amid Recession Concerns
The recent drop in Bitcoin (BTC) below $57,000 has sparked concerns among investors, leading to a "sell-on-strength" trend. This trend is fueled by fears of a potential U.S. recession, as indicated by the recent decline in the U.S. ISM Manufacturing PMI and the lower-than-expected job growth in August. Analysts believe that investors are taking profits off the table and waiting for a better re-entry point amid the economic uncertainty and potential liquidity crunch.
