Analyst Explains the Reason for the Drop in Bitcoin Price

According to analysts, last week's halving in Bitcoin has not yet affected the price.

With the halving at the weekend, the amount of new Bitcoin produced daily decreased from 900 to approximately 450. But this decrease in supply did not increase the Bitcoin price as expected. Bitcoin instead lost more than 2% during the week.

According to Nansen.ai analyst Aurelie Barthere, this correction in Bitcoin is largely due to macroeconomic uncertainties.

Barthere said, “I think the correction we are seeing now is macro-driven and this can also be seen in technology stocks in the USA. “This is a combination of interest rates remaining high in the US and the balance sheets of tech companies disappointing investors.” said.

Barthere also added that Bitcoin has historically delivered large returns within 250 days of the halving.

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