📉📉 Wondering why #Bitcoin is taking a dip? Here are a few factors shaking up the market:
1️⃣ Historical patterns: After every halving, BTC tends to correct, and we're witnessing just that after a meteoric rise from $15k to $73k.
2️⃣ GDP disappointment: US GDP projections fell short, sparking recession fears. This sent shockwaves through S&P 500, NASDAQ, and the crypto market.
3️⃣ Biden's tax talk: Biden's proposal for record-high capital gains tax at 44.6% rattled investors. A 25% tax on unrealized gains for high-net-worth individuals added to the jitters.
4️⃣ Israel tensions: Escalating tensions with Israel striking 40 Hezbollah sites in Lebanon added geopolitical uncertainty, prompting a knee-jerk reaction in Bitcoin prices.
What's next? Low GDP could push the FED toward rate cuts, potentially offsetting some concerns. Despite fluctuations, BTC support at $60K remains robust, signaling strong buy orders.
In the midst of volatility, stay informed and keep an eye on potential buying
opportunities. 📉💼 Remember, every dip could be a chance to scoop up some golden bargains! 💰✨
