📉 #Crypto continues seeing concerning declines with the totality of market caps we track now down -7.5% in the past week. The #BitcoinETF approvals increasingly look to be a classic 'buy the rumor, sell the news' event, but it is still early. If traders begin to panic, their big sell-offs and #bearish sentiment may trigger a bounce. We will update on sentiment activity shortly.

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👀📊 All eyes of the #crypto community shifted toward $BTC after the #SEC's false announcement of #BitcoinETF approvals. However, it has been #altcoins that have quickly seen major surges despite #Bitcoin declining as low as $45.4K.

Though a multi-day #altcoinparty would please many who have been trading into more speculative assets today, remember that a lack of confidence in #cryptocurrency's top asset would inevitably lead to the downfall of many market caps that rely on $BTC's price to stay steady. 🙏

References:

• Evergrande, China - https://www.theguardian.com/world/2021/sep/20/shares-in-chinas-evergrande-plunge-again-as-fears-of-contagion-grow
• Prison - https://www.reddit.com/r/CryptoCurrency/comments/pr7qzn/would_you_spend_88_years_in_prison_for_616_btc/
• Songbird - https://blog.bitstamp.net/post/songbird-sgb-distribution

More about Salvador and Bitcoin: https://edition.cnn.com/2021/09/06/business/bitcoin-price-el-salvador-intl-hnk/index.html