As the end of the year approaches, Bitcoin’s price outlook appears to be bleak. Markus Thielen, an analyst at 10x Research, pointed out that although the encryption market has shown some positive signs recently, such as the increased interest of institutional investors in Bitcoin spot ETFs and the success of Bitcoin prices in resisting the impact of Mt. Gox returning a large number of Bitcoins, However, the U.S. economy has shown signs of weakness over the past two days than the Fed expected. A weak ISM index weighed on risk assets.

The Federal Reserve has signaled it will cut interest rates in the fall, but that doesn't appear to be enough to stem the economic downturn. If stocks follow the downward trajectory of the ISM Manufacturing Index and begin to price in expectations of an impending recession, then stocks could see significant declines over the next few quarters. In this scenario, Bitcoin could face massive selling pressure and its price could fall below $50,000, or even lower. #美国7月非农就业增长放缓 #美联储何时降息？ #美国政府转移BTC $BTC