BEARISH MAY CONTINUE FOR A WHILE 👉🚦🚦 💰👀

📌Gold's Rise: Shift to Safe Haven

A significant increase in gold prices in 2019 coincided with Bitcoin reaching its peak. This pattern resurfaced in March 2024, suggesting that the crypto market may enter a cooling period before recovering by 2025. Gold stands out as a safe haven for investors who are risk-averse due to reasons such as geopolitical conflicts, uncertain US elections, and Yen carry trades. In this process, $BTC may follow the movements of gold, but the same may not be true for high-risk altcoins.

📌Interest Rate Cut Environment

Although interest rate cuts are positive in the long term, their immediate effects usually harm risky assets. In the last interest rate cut cycle, ALT/BTC pairs experienced major losses. These pairs could experience more pain as long as the market remains risk-averse. Therefore, interest rate cuts could have a negative impact on the crypto market in the short term.

📌Unemployment

Since 1950, a recession has been seen when the unemployment rate has risen above 0.5%. This indicator has brightened again in the past week, signaling a potential economic slowdown. This could put pressure on the crypto market.

⚠️But all of this is valid in the short term. Our path is clear in the long term🚀🚀

$ETH 6000👍