Regarding the subsequent market of Bitcoin (BTC), there are several main observation points:

1. Short-term price fluctuations: Bitcoin has experienced a large decline in recent times, once falling below the $60,000 mark, and fell by about 7% in just 24 hours. This adjustment exceeded market expectations, causing many leveraged speculators to suffer heavy losses. 2. Market supply pressure: The decline in Bitcoin prices is partly attributed to increased market supply. This includes the sale of Bitcoins confiscated from criminal activities by German authorities and the upcoming repayment of Bitcoins to creditors by the bankrupt exchange Mt. Gox. It is estimated that the number of Bitcoins returned by Mt. Gox may be between 65,000 and 140,000, with a maximum value of more than $8 billion at current prices.

3. Selling pressure from cryptocurrency mining companies: After the Bitcoin mining reward was "halved", the income of cryptocurrency miners was reduced by half. In order to make up for the cost, mining companies accelerated the sales of Bitcoin, which also increased the supply of Bitcoin, further boosting the downward trend.

4. Investor sentiment: Investors are re-evaluating the attractiveness of cryptocurrencies relative to other investment products. In addition, traders' continued pessimism about the number of interest rate cuts by the Federal Reserve may also be affecting the market sentiment of cryptocurrencies.

5. Linkage with other markets: The fluctuation of Bitcoin prices is related to the performance of technology stocks in the US stock market. For example, the plunge in the share price of Nvidia (NVDA.US), the AI ​​leader in the US stock market, has also attracted the attention of global investors to the linkage between Bitcoin and technology stocks. Historical trends: Although some analysts predict that if history repeats itself, the price of Bitcoin may exceed $200,000 in June 2024. However, it should be noted that such predictions are based on past market performance, and future market trends are often affected by multiple factors and are difficult to accurately predict.

In summary, the subsequent market of Bitcoin is affected by multiple factors, including market supply, investor sentiment, and linkage with other markets. In the short term, the price of Bitcoin may fluctuate greatly. For investors, it is necessary to pay close attention to market dynamics and invest rationally. #BTC☀