📉 Bloomberg Analysis: Bitcoin Expected to Close Lower for Q3 Bloomberg's analysis indicates that Bitcoin is anticipated to close lower for the third quarter of this year. The cryptocurrency has experienced a roughly 12% price drop since early June. Macro-economic uncertainty has been cited as a negative factor impacting Bitcoin's price, with BTC trading in a range-bound pattern since the latter part of the second quarter. The U.S. Federal Reserve's decision to maintain a higher base interest rate for an extended period has made riskier assets like Bitcoin less appealing. Additionally, fund outflows from major Bitcoin investment vehicles and the repeated extension of the SEC's review deadline for a Bitcoin spot ETF launch have exerted downward pressure on Bitcoin's price during the third quarter. Amid the rising possibility of a U.S. federal government shutdown, some Bitcoin supporters foresee a potential surge in BTC similar to what occurred during the March liquidity crisis for small and medium-sized U.S. banks. As per CoinMarketCap data, BTC is presently trading at $26,845, reflecting a 1.13% decline. 📊📉 #BitcoinAnalysis #BTCPrice