Will Bitcoin Price Continue to Fall?

🧧🧧$BTC

Bitcoin price stands at $58,000 at the time of summer preparation and occasionally falls below this level, forming short-term sub-fuses. For now, Bitcoin has not closed below the key support level, but it has not been able to return to the safe zone. The crypto market shows a negative separation in general

Germany and Mt Gox have completed their sales of refunds, the US government has paused their sales but Bitcoin still hasn't recovered. Altcoins, on the other hand, continue to experience great losses. In particular, SOL Coin is at the level of 138 dollars with a decrease of 8 percent and draws attention as one of the most lost among the largest altcoins. Bitcoin is moving towards a negative monthly close as it approaches the end of August

Miles Deutscher stated that Bitcoin sales are largely based in the US and Asian investors are more in buyer positions. These sales in the US were triggered by strong sell-offs in Binance spot pairs after Bitcoin's $65,000 trial. While Bitcoin's cumulative return on Asian transaction hours is 5 percent, this figure is negative for the US

Despite NVIDIA's positive earnings report after the opening of US stock exchanges the Bitcoin price experienced a sharp decline. Although interest rates will start to fall after 19 days, Bitcoin did not react to this situation. However, the closest event that may trigger a return in the markets appears to be the non-agricultural employment data, which will be announced on September 6

Asian investors maintain their buyer position, sales in the US continue.

After Bitcoin's $65,000 trial, Binance spot sales played a triggering role.

If TDI data is bad, there may be an increase in the price of BTC.

The Fed's interest rate cut plans should normally increase appetite in risk markets, but Bitcoin is currently unresponsive to this situation. Bad non-agricultural employment data can positively affect the #BTC☀ price by increasing interest rate cut expectations. However, the risks for Bitcoin remain in the current situation.