Post
Yevhenii ǀ Crypto Enthusiast
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Bearish📉Bitcoin will fall to $10,000 - Bloomberg
Senior strategist at Bloomberg Intelligence Mike McGlone voiced a rather pessimistic scenario for BTC.
Key points:
🔸 Critical level - $75,000. If BTC does not overcome and hold this mark, it faces a drop to $10,000. The $75,000 level has repeatedly determined changes in market trends over the year and coincides with significant Fibonacci correction levels.
🔸 Why $10,000 specifically? McGlone calls it the "level of attraction." Before the massive liquidity influx in 2020-2021, the price consolidated around $10k for a long time, and a return to these values is now possible. This is also the most traded price of the asset since 2017.
🔸 Structural obstacles. The market is oversaturated with millions of new tokens that are siphoning capital away from BTC. Meanwhile, the most resilient trend is stablecoins: it is expected that Tether may surpass Ethereum in significance by 2026.
📊Current situation:
-BTC is currently trading around $69,000
-The market has shown resilience (+3% over the day) despite geopolitical tensions between the USA and Iran.
-Oil prices have surged above $115 per barrel, increasing inflationary risks worldwide.
Such is life 🤷♂️
What do you think of the price of $10,000 for BTC?
#BTC #bitcoin
{spot}(BTCUSDT)
Senior strategist at Bloomberg Intelligence Mike McGlone voiced a rather pessimistic scenario for BTC.
Key points:
🔸 Critical level - $75,000. If BTC does not overcome and hold this mark, it faces a drop to $10,000. The $75,000 level has repeatedly determined changes in market trends over the year and coincides with significant Fibonacci correction levels.
🔸 Why $10,000 specifically? McGlone calls it the "level of attraction." Before the massive liquidity influx in 2020-2021, the price consolidated around $10k for a long time, and a return to these values is now possible. This is also the most traded price of the asset since 2017.
🔸 Structural obstacles. The market is oversaturated with millions of new tokens that are siphoning capital away from BTC. Meanwhile, the most resilient trend is stablecoins: it is expected that Tether may surpass Ethereum in significance by 2026.
📊Current situation:
-BTC is currently trading around $69,000
-The market has shown resilience (+3% over the day) despite geopolitical tensions between the USA and Iran.
-Oil prices have surged above $115 per barrel, increasing inflationary risks worldwide.
Such is life 🤷♂️
What do you think of the price of $10,000 for BTC?
#BTC #bitcoin
{spot}(BTCUSDT)