Bitcoin Plummets, BlackRock Causes a Stir!

Last Friday, Bitcoin $BTC staged a thrilling scene, with its price plummeting like a roller coaster to $96,000 before slightly rebounding. At this moment, Wall Street giant BlackRock suddenly spoke out, questioning whether Bitcoin's total supply can remain fixed at 21 million coins. This statement was like a thunderclap, instantly igniting the market!

Bitcoin has always prided itself on its fixed supply, viewing it as a killer app for value storage. BlackRock's questioning undoubtedly challenges the myth of Bitcoin's scarcity, shaking the market's confidence.

Worse still, the cryptocurrency exchange Mt.Gox sold $102.5 million worth of Bitcoin after the Federal Reserve's hawkish signals, which undoubtedly added insult to injury, worsening the already turbulent Bitcoin market.

The sell-off by Mt.Gox directly triggered a market sentiment collapse, with traders and investors witnessing billions of dollars in liquidations, feeling terrified. From a technical standpoint, Bitcoin is facing immense pressure, and whether it can hold the key support line has become the market's focal point. If it fails to do so, prices are likely to continue to decline!

How will this Bitcoin storm conclude? Let's wait and see!

If you want to delve deep into the crypto world but can't find your bearings, and wish to quickly get started and understand the information gap, tap the profile picture to follow me for firsthand information and in-depth analysis!