Overview of the Crypto Downturn

Why is crypto down? Some critics blame the actions of certain players in the market, particularly Binance, which is accused of draining liquidity. Many believe the bull run is over.

Why is Crypto Down? The Case Against Binance

Binance has been under scrutiny after a significant reduction in its Bitcoin and Ethereum reserves, leading to speculation that a sell-off may have occurred. In response, Binance has clarified that the changes were part of internal fund management efforts to improve transparency around their financial operations.

🎯 JUST IN: In January, Binance sold 94% of its $BTC reserves, 99.9% of $ETH, and 99% of $SOL, stating that these were profits and not customer funds.

The Impacts of Trump’s Presidency

Since Donald Trump’s presidency began on January 20, there’s been a noticeable outflow of money from the markets. Some commentators suggest this could signify the end of the current bull run.

In my opinion, it’s a great time to add $ETH. — Eric Trump (@EricTrump)

Conclusion

With the current market hesitancy and upcoming events like the upcoming US presidential election, it remains to be seen how these factors will influence future market behavior. Binance reassured users of their asset safety, emphasizing their Secure Asset Fund for Users (SAFU).

For more details, check out our links on Binance’s recent actions and how to invest smartly.