Analyst: Increased U.S. Unemployed Leads to Falling Demand for Bitcoin

Australian crypto analyst Alex Saunders said that last week more than three million Americans applied for unemployment, and because unemployed people use cash as a last resort, Bitcoin demand for retail investors may decline. At the same time, institutional investors have also reduced their cash liquidity exposure in the cryptocurrency market: to make up for their margin deposits, or to maintain this state to look for buying opportunities.