Bitcoin Drop Below $65,000: Raising Market Realities and Future Expectations.

The cryptocurrency world took an unexpected turn when Bitcoin fell below $65,000 for the first time since mid-May, shaking the confidence of the crypto community.

Contrary to optimistic projections circulating on crypto Twitter, the expectation that Bitcoin will rise to $1 million after the US SEC approved spot Bitcoin ETFs has not yet come true.

Experts examine the underlying reasons for this difference and point out the impact of macroeconomic conditions and market sentiment.

Spot Bitcoin ETFs: Great Expectations and Unmet Hopes

The US SEC's approval of spot Bitcoin ETFs was described as a groundbreaking event for the cryptocurrency market. Crypto enthusiasts have argued that this would allow institutional investors to invest in Bitcoin more easily and safely, unleashing a wave of capital that could push prices to record highs. However, despite these optimistic predictions, Bitcoin did not show the expected performance and the reasons for this difference began to be examined more deeply.

Economic Conditions and Market Sentiment

The current global economic environment plays a critical role in shaping market behavior. Jumper.Exchange CEO Marko Jurina states that investors trading amid economic instability and geopolitical uncertainties are being cautious. Many are forced to exit risky investments or sell at a discount during these unpredictable times. Summer months typically show low market activity, which can increase volatility. Additionally, the upcoming US presidential elections also increase the layer of uncertainty on the market, affecting investor sentiment and decisions.

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