There is a voice in the market that this is a bear trap and that whales are manipulating the market.
In March 2023, the United States sold nearly $660 million worth of Bitcoin. At that time, the market was in panic, but within two months the market rebounded and reached an all-time high (ATH).
Despite the decline in Bitcoin prices, major companies did not sell their assets, but instead began to buy BTC during the price decline.
More and more people on social media are calling for "buy on dips". When the price of Bitcoin is below $60,000, it is time to buy the bottom. In addition, the subsequent passage of Ethereum spot may cause Ethereum to rebound more strongly.
Although it is unlikely that the Federal Reserve will cut interest rates this month, most investors believe that a rate cut may be seen later this year.
In the second half of the presidential election, Donald Trump currently has the largest approval rating. If he wins, the head of the SEC may be someone who is favorable to cryptocurrencies.
