Recently, Bitcoin has encountered renewed selling pressure, with global market developments prompting cautious sentiment among market participants.
Technical Patterns Signal Risk
The technical correlation between Bitcoin and indices such as Nasdaq and S&P 500 has reached notable levels. Analysts indicate a downturn formation known as the “Death Cross”, suggesting increased risks for the cryptocurrency market. The psychological threshold of $80,000 is closely observed by investors.
Global Liquidity Tightening and US Data
Not only technical analyses but also economic data continue to influence the market. The notable tightening of global money supply has become a significant factor. Analyst Ali Martinez stresses the need for investors to reevaluate their liquidity expectations. US personal consumption expenditure data confirm ongoing inflation pressures.
Gold Rises, Bitcoin Faces Criticism
Bitcoin's attempt to reach $90,000 ended abruptly, drawing attention to its resistance levels. Amidst growing economic uncertainty, investors are turning to gold. Economist Peter Schiff argues investors should be cautious with digital gold investments.
Bitcoin's market remains pressured, necessitating a careful investment approach due to current volatility and global market uncertainties.
