The main reason why Bitcoin fell below $64,000 again is due to the current macroeconomic and geopolitical environment. Although Bitcoin briefly rose 5.2% in early October, it has not been able to break through the $66,000 resistance level since the end of July.

There are several key factors behind this phenomenon. Global economic uncertainty and increased geopolitical tensions in the Middle East have led investors to prefer safe-haven assets such as stocks and holding cash rather than risky assets such as Bitcoin. Stronger-than-expected US employment data for September reduced the likelihood of a recession, which prompted the Federal Reserve to maintain high interest rates, further dampening investor interest in Bitcoin.

Global investors' attention is turning to the stock market, especially the strong performance of the stock market due to the recovery of the semiconductor industry and China's economic stimulus policies, which also weakens the demand for alternative assets such as Bitcoin.

Although the Bitcoin derivatives market remains balanced, the outflow of funds from spot exchange-traded funds (ETFs) reflects the lack of investor confidence. Overall, Bitcoin cannot break through $64,000 mainly because the current macroeconomic situation and sociopolitical uncertainty make investors prefer the stock market and safe-haven assets rather than Bitcoin. $BTC