2024 is about to be halfway through. The market trend in the first half of the year was affected by multiple factors, including Bitcoin halving, the hype of the US Bitcoin spot ETF and its approval for listing.
Bitcoin opened at $42,457.6 at the beginning of the year, and then continued to rise to $73,787.1 on March 11, setting a record high.
However, when people were looking forward to its rapid breakthrough of $100,000, affected by Grayscale's continuous reduction of holdings, the price of Bitcoin fell all the way, and fell to a minimum of $63,383.3 yesterday.
Recently, the trend of the crypto market has been affected by multiple factors, including:
Whether the United States will cut interest rates;
The US Bitcoin spot ETF continues to outflow funds;
On-chain data shows that the German government wallet sold about 6,500 BTC on the 19th and still holds 43,359 BTC;
The 9 billion bitcoins in the Mentougou incident must be sold before October to repay debts.
These factors have brought great uncertainty to the market trend. However, before the October deadline, large investors and institutions may push the price of Bitcoin to a new level.
Therefore, when trading, you should pay close attention to market dynamics. For novices, it is recommended to pay attention to the three golds to reasonably allocate positions.
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