Something is brewing over Bitcoin. While earlier the information field buzzed with possible new highs, now there is increasingly pessimistic information.
At Galaxy Digital, they do not rule out further declines in Bitcoin. The head of research at the company, Alex Thorn, notes that in the coming weeks or months,
$BTC may gradually descend to the $70,000 zone, and in a worst-case scenario — test the realized price and 200-week average in the range of $56,000–$58,000.
Key factors affecting the price:
- BTC is already down -38% from ATH of $126,000;
- 46% of all BTC are at a loss;
- The 50-week moving average has been broken;
- Weak demand from whales;
- BTC does not correlate with the rise of gold and silver amid macro uncertainty;
- The average entry price for ETF investors is around $84,000, and they are currently in the red.
The combination of these factors increases the risk of further pressure on the price and makes the scenario of a deeper correction quite realistic.
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