Why is BTC Price Falling Today 📉
Bitcoin is struggling just under $65,000, with market sentiment poor despite the Fear and Greed Index being neutral. Bears predict a significant drop, potentially entering a bear market. Why?
A Series of Corrections
Bitcoin has seen several short-term corrections up to 20%, but the current correction is more prolonged and severe at 27.5% over 140 days. Despite this, Bitcoin remains in a bull market, and exiting now is riskier than staying in.
Huge Gains Demanded Longer Correction
After a 91% gain in 30 days post-correction, a longer consolidation period is expected. Prolonged consolidation may lead to a higher breakout target.
Global Liquidity Cycle
Global liquidity is rising as some central banks cut rates. The Federal Reserve signaled a possible rate cut in September.
Massive Debts
With global debts soaring, especially in the US, another round of fiat currency printing is likely, boosting liquidity.
Institutional Interest
Institutions recognize Bitcoin's value, with major players like Blackrock buying BTC for corporate clients.
Sovereign Interest
Sovereign states may follow, buying Bitcoin to secure their place in global finance, triggering a rush among others.
Are you still in Bitcoin?
