🌟🌟🌟I believe that Bitcoin is down because many big investment funds are selling their crypto to free up cash so that they can buy into big IPOs like SpaceX.
Another factor is that US government bonds' yields have increased. So when investors can get a safe guaranteed return from the government, they tend to pull their money out of risky assets like Bitcoin.
Finally Spot Bitcoin ETFs have witnessed an outflow of funds with investors pulling over USD 4.21 billion out of these ETFs in less than 3 weeks.
Is there hope for Bitcoin?
Yes there is certainly hope for Bitcoin. These drops are normal cleansing process that sets up the next big growth phase for Bitcoin.
Some analysts expect that Bitcoin will reach USD 150,000 by the end of 2026.
The US government has officially established a Strategic Bitcoin Reserve centralising all government held tokens into a permanent national asset reserve.
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