Will Bitcoin fall below 60,000? Where is the bottom? Why is it falling?

Technically speaking, the daily line has stabilized, but there is still room for the weekly line;

In terms of the overall environment, in fact, the US non-farm data and CPI this month are not bad, and the result of the Fed meeting on the 12th kept the interest rate unchanged as expected;

These should not be the cause of the decline, but it is a decline, which can only mean that the landlord has no surplus food. In the past year since the Fed’s interest rate was high, there has been less and less money in the market, and liquidity has become worse and worse.

In the current currency circle, Bitcoin can still withstand the blood transfusion of ETFs, but a number of altcoins have no blood to transfuse, and can only follow the decline and not the rise, and continue to fall to new lows. The fundamental of the bull market is: there are constantly new funds entering the market; but now the Fed’s interest rate is high, and the whole world is short of money. All markets are like this, it is a greater fool game.

In the short term, Bitcoin is likely to fall below 60,000 again, and it is reasonable for other altcoins to hit new lows again, but the decline is an opportunity. Buy when it falls and sell when it rises, and you can get rich.

It has been said more than once before that the 3-5 months after the halving are the most difficult. If retail investors are not forced to sell at a loss and the main players complete their chip collection, the bull market will not come. The same is true from the Fed's interest rate cut cycle. The two times just coincide. The Fed should confirm the interest rate cut at the latest in September, or at least make it clear that the interest rate cut will be made. Then it will be time to shout out that sentence: a huge surge, you can't imagine it.