#BTC
Current State: Consolidating after its Q1 2024 ETF-driven rally. The mood is cautious.
The Bull Case (Reasons it Could Go Up):
· ETFs: Creating massive, constant institutional demand.
· Halving: Reduced new supply is a long-term bullish catalyst.
· Key Support: Holding above $60,000 - $61,500 is critical for bullish sentiment.
The Bear Case (Risks & Headwinds):
· Macro: High interest rates make "risk-off" assets more attractive.
· Miners: They are selling BTC to cover costs post-halving, creating pressure.
· Breakdown: A fall below $60,000 could trigger a drop toward $56,000.
Bottom Line: The long-term fundamentals (ETFs, Halving) are strong, but short-term price action is battling headwinds. Watch the $60,000 level and ETF flow data for the next major move.
