🚨 3 Reasons Why BTC STRUGGLES to hit $70k+ 🚨

1. The global economic backdrop has become a source of concern for Bitcoin traders. In the US, the housing market is flashing warning signs, with new home sales dropping 4.6% year-over-year in August. This marks seven consecutive months of price declines, the longest streak since 2009, signaling a potential slowdown. Across the globe, China’s central bank cut interest rates and offered a $142 billion credit line to businesses, but analysts warn this may not be enough to reverse the country's economic slowdown.

2. Concerns about a potential US stock market correction are weighing on Bitcoin. On Sept. 24, Berkshire Hathaway reduced its stake in Bank of America, selling $8.9 billion worth of shares. With the S&P 500 reaching an all-time high on Sept. 25, traders are bracing for a potential pullback, which could drag down Bitcoin as well. Bitcoin’s performance is often linked to broader market sentiment, and a stock market correction could trigger liquidations in crypto markets. Traders are particularly cautious, as macro and financial pressures converge, making Bitcoin’s price action more volatile.

3. The upcoming US presidential election has added another layer of uncertainty. Investors are wary of potential changes in crypto regulation, particularly with Vice President Kamala Harris seen as the Democratic Party's candidate. The current administration’s stance on crypto has been viewed as less supportive, leading traders to adopt a cautious approach. On the other hand, Donald Trump, the Republican candidate, has been pro-Bitcoin, even speaking at the Bitcoin 2024 conference and supporting miners. His victory could fuel bullish sentiment, while a Harris win might cool market enthusiasm, creating election-driven volatility.

Looking at the upcoming elections, we can expect strong market movements in November so prepare yourself and stay updated by following @Professor Mende - Bonuz Ecosystem Founder !

#FOMC #BTCReboundsAfterFOMCb #SpotGoldATH #CryptoMarketNews #PricePrediction $BTC