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The increase in commercial deficits in the United States, sales of internal shares and weak Chinese banks increased the caution of world investors.
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Whales and miners continue to sell Bitcoin, but macroeconomic weakness remains the dominant driver.
Bitcoin (BTC) fell to its lowest level in 50 days, below $ 108,000. The strong decrease caught the offsembled merchants and caused $ 137 million in settlements of leverage bullish positions. The measure occurred after a 1.2% setback in the Nasdaq 100 100 Technological Heavy Index, driven by growing doubts about the sustainability of the growth of the artificial intelligence sector.
Market participants now weigh if Bitcoin recession reflects broader macroeconomic pressures or is limited to cryptocurrency.
The precaution of investors intensified after the United States reported a 22% increase in the trade deficit for July. Imports exceeded exports at $ 103.6 billion, expanding the gap more than economists had predicted. Reuters noted That trade “could be a great drag for economic growth in the third quarter.”
The main sales of privileged information and the increase in the uncollectible debt of Chinese banks increase the risk
User X Malone_Wealth said the 200 best operations of shares by executives, directors and the main shareholders last week were all sales, something that described as unprecedented in his life. Internal activity is generally monitored by presentations before the US stock and values commission. UU.
Prominent transactions included a planned sale of $ 961 million per Jim C. Walton de Walmart, $ 164 million from Slootman Slootman from Snowflake and $ 160 million Dennis J. Wilson of Amer Sports. Other large movements came from Dutch Bros Travisma at $ 81.5 million and Andrew Biacki from Klaviyo at $ 73.7 million.
Additional concerns from China arose after the five greatest lenders in the country reported Record margins and growing crime, according to the Financial Times. Chinese retail banks eliminated $ 5.2 billion in uncollectible debt during the first quarter, an eight -time increase with respect to the previous year, based on figures from the bank credit asset registry and the transfer center.
The concerns of the AI sector are deepened as the stocks of Nvidia and SMCI decrease
The AI sector has also become a growing source of restlessness. According to reports, Nvidia (NVDA) revealed that 44% of its data center revenue wine from only two customers. Despite the strong quarterly results on Wednesday and the income orientation of the third quarter in line with expectations, NVDA shares fell 4.7% in two negotiation sessions.
Meanwhile, Super Micro Computer (SMCI) warned Thursday that weaknesses in their financial reports could undermine their ability to release the results. The company of $ 25 billion, a key partner of Nvidia that supplies high performance and infrastructure servers of the data center, saw that its shares decreased 5.1% on Friday.
Related: Bitcoin Trend Reversal at $ 118k or other fall at $ 105k, what is the first?
The signs of risk aversion were also evident in the bond market. The demand for US treasures. Uu. It gave the yield of 2 years to 3.62%, its lowest level in four months and well below 3.80% only one week before. The will of investors to accept lower yields despite persistent inflation suggests a growing preference for security.
The recent Bitcoin sales by long whales and exits of constant miners have been added to the negative tone. Even so, the main driver of the last decrease in BTC remains the weakened macroeconomic perspective, with many merchants who choose to reduce exposure before the US national holidays.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The points of view, the thoughts and opinions expressed here are alone of the author and do not necessarily reflect or represent the opinions and opinions of Cointelegraph.