2. The Main Reasons Behind the Recent Drop
ETF fund bleed: In June, outflows of more than $4 billion were reported from Bitcoin ETFs in the US, reflecting a decline in the appetite of major institutional investors at this time.
Monetary policy (the Federal Reserve): Ongoing expectations of keeping interest rates high for longer, along with inflationary pressures, cast a shadow over high-risk assets.
Geopolitical concerns: The prevailing uncertainty in international political files pushes investors to hedge and temporarily move away from the crypto market.
3. Technical Outlook and Expectations for This Month
The bearish scenario (most likely right now): Technical indicators on the medium timeframes are turning negative after breaking key supports. If price fails to hold above $58,000, we may see continued downward movement to liquidate futures contracts and test psychological support areas around $50,000.
The rebound scenario: If buyers manage to absorb selling at current levels and return above $60,000, the rebound could extend to fill previous price gaps (CME Gaps) and target areas of 64,000$ and then 66,000$ as trading objectives. #BTC走势分析 #BTC
ETF fund bleed: In June, outflows of more than $4 billion were reported from Bitcoin ETFs in the US, reflecting a decline in the appetite of major institutional investors at this time.
Monetary policy (the Federal Reserve): Ongoing expectations of keeping interest rates high for longer, along with inflationary pressures, cast a shadow over high-risk assets.
Geopolitical concerns: The prevailing uncertainty in international political files pushes investors to hedge and temporarily move away from the crypto market.
3. Technical Outlook and Expectations for This Month
The bearish scenario (most likely right now): Technical indicators on the medium timeframes are turning negative after breaking key supports. If price fails to hold above $58,000, we may see continued downward movement to liquidate futures contracts and test psychological support areas around $50,000.
The rebound scenario: If buyers manage to absorb selling at current levels and return above $60,000, the rebound could extend to fill previous price gaps (CME Gaps) and target areas of 64,000$ and then 66,000$ as trading objectives. #BTC走势分析 #BTC