It’s A #Crypto BLOODBATH!!! Here Why The Market Is Falling Right Now…

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What’s up you guys it’s Matt here let’s talk about the crypto Market in this video I haven’t done a market update video in a while and typically I’m doing my updates in my live streams during the day I’m not so sure that I’m going to

Get to a live stream today so I’m going to go through update as of 5:30 a.m. typically in the morning we see the market move aggressively one way or the other whether it’s going to either increase a heavy amount between let’s say two to 5 5 a.m. or it will decrease

A heavy amount between 2 to 5:00 a.m. so let’s go ahead and look at exactly what’s happening in the market we’ll look at the news we’ll look at why it’s a blood bath and um why I believe it’s a blood bath it’s not 100% confirmed but these are the things that we do

Typically see at the end of the year every single year because I mean it’s a a standard thing to have happen now one thing is not something that we see normally but but one uh reason is so we’ll get into those reasons in a couple of uh minutes make sure you guys hit

That like button hit the Subscribe button and hit the notification Bell for more uh videos like this one also make sure you check out any of the links that are down below it does help out the channel and if you guys want to uh start

Trading with Marx feel free to use uh my link down below where you can trade up to 100x uh leverage on bitcoin 100x leverage on ethereum or and B and then even xrp and some other things you can trade up to like 50x Leverage so if you’re interested in leverage trading if

You’re interested in buying as well as shorting the market Marx is a great option so feel free to go over there and check that out I will try and upload a video on my Matthew Perry 2 Channel going through and navigating through Marx if you guys want to um you know see

That as well but let’s talk about this because the crypto Market has been running for a while right we saw it um go up to a level of like a 1.72 I believe it might have been higher $ 1.72 trillion market cap that’s a huge market cap right compared to where we

Were where we were uh less than a trillion dollars or fighting our way between 1 trillion and 1.2 trillion like we’re adding another 500 billion over 500 billion to the pot um so we know we had a lot of movement a lot of upward movement now we did see some pullbacks

From levels of like um 1.5 trillion market cap down to like 1.4 then back up to 1.5 1.55 and 1.6 and then a retracement down again so a decent size like little small like retracements it’s never really been a larger retracement but I didn’t think we were expected to

See one because we have been seeing such like you know positive as well as negative movement but let’s go into the market um and look at how it’s performing today so as it hit that $1.7 trillion market cap it currently stands at a$ 1.63 trillion do market cap down

2.55% uh yesterday actually wasn’t really that bad um even though it was kind of red it wasn’t really that bad because we did see it up to like a 1.66 or 1.67 trillion dollar market cap so not too far away from um the 1.7 uh trillion dollar market cap

Overall but currently like I said we’re seeing a $ 1.63 trillion do market cap where bitcoin’s dominance is slowly increasing now in order to hit altcoin season we need to see Bitcoin dominance decrease and Below 50% is great obviously below 45 or below 40% would be fantastic I think the lowest level that

We hit in the last bull market was 38% and that’s where you saw a lot of other things that were worth tens of billions or even closing in on hundreds of billions of dollars something like a salana or Ada or even a Dogecoin that was up in those levels and xrp was over

The100 billion market cap for a while it hovered at 120 um billion dollar market cap so we definitely need to see that decrease in order to see the Bitcoin uh in order to see uh altcoin season happen but if you look at the overall Market we’re going to see Bitcoin that’s down

About 2.4% 2.5% ethereum down uh 3.5% or almost 3.6% um BNB that’s down 1.25% that’s not really down as much that has increased quite a bit over the last 7 days you see it’s up 17% salana down 6% closing in on that $100 mark xrp down 2% uh cardano down 4% Avalanche is

Down 8% right now which is crazy for how much that has run um Dogecoin down 3% and polka dot 4% uh Tron you see that slightly down polygon 5% chain link is 6% Shinu down ton is actually up on the day Bitcoin cash is up on the day Litecoin is down so

There’s a lot of things that are you know decreasing internet computer looks pretty good U but there’s a lot of things that are decreasing today and just don’t look great and it’s like a true blood bath where everything it seems like is red now you do have a

Couple of things that are running like I said you have uh Bitcoin cash you have Bitcoin SV um you have C you have FTX that’s making a move so some things that are you know positively running right or moving in that direction but most of the market you’re

Seeing that it’s falling down especially the larger um positions within the market ones that are worth either tens of billions of dollars or hundreds of billions of dollars approaching trillions of dollars right so what’s really the the news that’s happening behind the crypto market right now they’re talking about Sam bangman freed

Uh Sam bigman freed convicted uh crypto King will not face a second trial um you know they’re talking about that where that has more of a a negative impact on the market as well um Bitcoin ETF approval tip to be a sell the news event uh that’s something that I brought up

Yesterday uh JP Morgan CEO criticized uh for Bitcoin ETF role um you have negativity that’s that’s hovering around it you also have more on teral Luna classic where um the ruling for or um Tera coins right Tera classic coins are are that their uh Securities and that

May be a negative impact to the overall Market as well so there’s a lot of negativity within the market and while we saw a bunch of positivity around the Bitcoin ETF we’re not really seeing that right now so definitely surrounding that portion of it having um that bit of news

But I think this is real the real reason why we are seeing the crypto Market collapse right now it’s the end of the year people are looking to realize their losses so that they can offset some of their gains that’s typically what happens and then you’re going to see in

The new year that people decide to buy now that’s typically what happens last year I believe it was a selloff towards the end of the year and then we saw like a slight jump just a little bit um but when it came to bitcoin itself there was

That there was what we expected right the sell off at the end of the year and then we saw it start to rise throughout the whole rest of the year right 2023 it started to rise and it continued to increase while everything else in the market didn’t so altcoins may act

Differently this time to where you may see altcoins that now bounce and uh a lot of people are investing into the crypto Market um instead of you know pulling out of their altcoins and pulling into you know Bitcoin um because again that’s what we saw right if we go

Back and look at uh Bitcoin um price movement let me go ahead and bring up this and do it by uh market cap if we go and bring up bitcoin’s price movement and we look at all history right all history will show at the end

Of 2020 at the end of 2022 we saw this this pullback right and then we saw in January in January everything really started to pick up and that’s where it kept going but then if you include a lot of other things let’s look at um maybe Ada for instance where is cardano well

Look at cardano and compare it you can see the exact opposite movement right for altcoins they did um you know the complete opposite where it started to drop down it really didn’t increase it increased a little bit right you saw that but then it started to fall down

Even more somewhere around here where where uh Bitcoin was flat everything else started to fall down to a little bit lower of a level hitting a a lower low than where it was before um and then you you saw it start to increase as of

Late so I think think as we get into the end of this year and we are at the end of this year we have two days um we’re probably expected to see an increase in the new year as people are realizing a lot of their losses that’s what I’m um

Going with again this is just speculation this is my opinion uh based on what I’ve seen with history and uh what typically does happen but right now we have a lot of like sell the news um type of events and um also if I must include one more thing that I feel like

Is not really an impact that you see every single year but the SEC is continuously attacking crypto there’s more and more that’s happening on the on Ripple versus SEC and obviously you see the SEC um with their their ruling it’s not official ruling but you do have a

Judge that’s saying these are securities for teruna classic and USC but then you’re also looking at now coinbase and all of the attention is going over to coinbase versus the SEC so it seems like they’re just trying to collapse everything but that’s why the market is

Is bloody right now I think we will see a recovery there’s um no doubt in my mind that we will see a recovery and I’m just hoping that I can come into some money so that I can buy more xrp because I want to hold a lot more xrp but guys

Hit that like button hit that subscribe button hit that notification Bell for more of these videos also make sure you check out any of the links down below one of those links being for Marx if you guys want to start trading with margin I’m going to get out here guys thank you

So much again for watching and I’ll catch you in the next one see you