Analysis: Bitcoin has fallen into the deep valuation zone of a bear market; the real test may have just begun.

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Golden Finance reports that on June 11th, even though U.S. inflation data hit a three-year high, Bitcoin's current price still hovers near the 200-week moving average, a level that has only appeared during the late stages of a bear market. Market sentiment is extremely pessimistic, with the Crypto Fear & Greed Index dropping to 9; major mainstream cryptocurrencies show weak rebounds, coupled with record-breaking ETF fund outflows, preventing tokens from recovering their losses this week.
U.S. inflation data surges, the likelihood of regulatory implementation becoming clearer decreases, and global interest rates continue to rise. Coupled with escalating geopolitical conflicts and a decline in U.S. stocks, these multiple negative factors make it difficult for Bitcoin to quickly rebound before the June Federal Open Market Committee (FOMC) meeting.
BTC2.78%
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