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I've been observing that Bitcoin is on a pretty strong red streak, the longest since 2022. Every time it tries to recover, something pushes it back down. Geopolitical nerves have a lot to do with this; global uncertainty is holding back any bullish movement in risk assets.
Right now, with the volatility we're seeing, it's hard to tell if we're close to the bottom or if more decline is coming. Risk trades are halted, and that is reflected in the price. I recently saw Bitcoin rise 0.40% in 24 hours, but these are unconvincing moves, nothing to make you think the trend has changed. At 6 PM, the markets remain tense.
The question now is whether this losing streak will break soon or if geopolitics will continue to pressure. Any major news could change the outlook, but for now, the sentiment remains defensive.