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Looking back at the recent price movement of Bitcoin (BTC), it can be seen that the drop from 109,000 to 82,000 was not immediate. After reaching the high point of 109,000, the BTC price began to experience a pullback. Initially, the pullback was relatively small, and market participants generally believed it was just a short-term adjustment. However, as time passed, the pullback increased gradually, and the price slid all the way down to 82,000. During this process, the market's panic gradually spread, and investors started dumping their BTC, further exacerbating the price decline.
Investors' BTC leverage ratio has decreased, reflecting strong bearish sentiment in the current market. Currently, the future trajectory of BTC remains closely linked to the US economy and policy. Therefore, BTC's volatility will continue until the US economy stabilizes.
If the market sentiment of the past few days continues, BTC may drop to $75,000 again. If the U.S. economy stops falling, the market sentiment can change to await the restoration of confidence, thus stabilizing the current downturn in the cryptocurrency market.
#加密市场进入熊市了吗