🌟🌟🌟The technical breakdown

🌟🌟🌟The technical breakdown of Bitcoin to new lows of USD 63,000 is driven by the spectre of the Iran war, new Fed Chair Kevin Warsh and the surprise sale of USD 2.5 million worth of Bitcoins by $Strategy(MSTR)$ .

This is possibly the biggest psychological blow to the crypto market as Michael Saylor has famously promised that his company would buy Bitcoin forever & never sell a single Bitcoin.

Is there still hope for Bitcoin?

Yes there is but it requires investors to ignore the volatile short term price charts and look instead at the deep institutional plumbing being built beneath the surface.

The biggest fundamental game changer for Bitcoin is no longer private tech companies or retail hype. The US government is moving forward with the Strategic Bitcoin Reserve Bill. This proposed law directs US Treasury to purchase up to 1 million Bitcoin over 5 year to hold as reserve.

There is still hope Bitcoin's future & NOW is a great time for bargain hunting.

@Tiger_comments

Market Crashes, Price in Rate Hikes? When to Start Picking up Chips?

US chip companies lost roughly $1.3 trillion in market cap in one day. The crash is essentially "crowded AI hardware trade + interest rate repricing + overstretched semiconductor expectations." Friday's non-farm payrolls delivered another blow: 172,000 new jobs added in May, clearly beating expectations, unemployment rate holding at 4.3%, hourly wages up 3.4%yoy. Rate-cut expectations back down. On top of this, the SpaceX IPO will siphon off hundreds of billions in liquidity. With this crash, will you panic and head for the exit, or treat it as a chance to get on board?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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