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Bitcoin price has seen such severe downward pressure and volatility that many have started Believe The bear market has started. While some analysts hope for the reflection of prices on the upward trend, others expect an additional collapse to $ 70,000, which led to the elimination of almost all gains made yet. American elections gather.
Popular encryption analyst and co -founder of Bitmex Arthur Hayes subscriber Detate of bitcoin price. Hayesa projects More collapse in bitcoin valueWhich indicates an imminent decrease between $ 70,000 and $ 75,000.
Bitcoin drop to $ 70,000 possibility
Crypto founder shared a two -hour BitMEX plan, explaining how the leading cryptocurrency currency can test this decrease and indicate the macroeconomic factors associated with the President of the United States (United States) Donald Trump As an operator for this price clouds.
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Hayes suggests that the market enters a cooling stage, which features a possible alternative to liquidity levels before the elections. The cooling stage is a period during which the price of encoded currency decreases and enhances it in the market attempts to stabilize. It usually comes after the encrypted currency experience Increase explosive prices.
Looking at his price scheme, the participant Bitmex founder was identified The order area About the blue area is between $ 76,000 and $ 65,000. This price range is a decisive support field, as traders expect a great purchase benefit, enough to prevent low prices.
Hayes believes that the price of bitcoin is possible Re decline to $ 70,000 It depends on Trump's budget and debt roof decision. It is suggested that if Trump fails to pass a budget that increases spending and raises the roof of debt, more surrender may occur in the market. This means that the market may be subject A quick sale by a large number of investorsWhich leads to panic that may lead to further decreases in the price of bitcoin.
In addition, if Trump's impact on the Republican Party is weak, Hayes notes that uncertainty in the market can grow, which may lead to continuity Bitcoin's current shrinkage. Moreover, debt ceiling reduction can negatively affect the market liquidation and fuel for more price fluctuations.
In general, the Haye Bitcoin's declining looks are linked to the Trump's financial effect. Bitmex co -founder suggests that, at the present time, the market can only “calm, restore and wait”.
BTC decrease signs for 3 days since FTX's failure
According to Metara, the last three days Decrease In the price of Bitcoin is the highest level in the accident that was seen since FTX FIASCO in 2022. In the first three days of this week, Bitcoin recorded a decrease in value by 12.6 %, prompting it to its current price of $ 86,227.
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Metara revealed that the sales of the wide market can be attributed to Negative feelings The disappointment of President Trump's lack of rapid work regarding his promises to the encryption community. Before his election, Trump pointed out a strong interest in creating a Bitcoin National Reserve And tightening Fiat liquidity conditions. With no plans related to these decisive initiatives, the uncertainty is looming, which leads to a Weak Market feeling.
Distinctive image from Adobe Stock, Chart from TradingView.com
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