📉 Bitcoin is going down. This is due to a major problem in the market. It doesn't feel like a day when people buy Bitcoin at a low price. It feels like the market is changing its way of thinking about risk.

Bitcoin fell below $60,000. It touched around $59,800 and wiped out about $600 million in long investments. This shows that the system is still taking a lot of risk. This is not a small movement in the market. This is a major change because of all the debt. When this happens, Bitcoin's price tends to stay messy for a while.
What makes this more interesting is that it is not happening alone. There are problems in the economy like the US core PCE at 3.4%, which is the highest since late 2023. This is not a disaster. It makes it hard to know what will happen with interest rates. Bitcoin doesn't like uncertainty.
If you look at the big picture, traditional finance is also having problems. AI-related stocks are falling and tech companies are hit hard. Even South Korea had a 5% market drop that triggered a circuit breaker. This kind of behavior usually spreads to Bitcoin and other cryptocurrencies.
On the other hand, seeing large investments in Bitcoin and other cryptocurrencies drop adds another layer. It shows that people are becoming less excited about taking risks in both finance and digital assets.
The big question now is not whether Bitcoin will go up again. Is this a major reset or the start of a bigger problem where people keep selling?
I am observing how Bitcoin behaves after this change. If buyers come in strong, this could still be a shakeout. If not, the market may need to reset before it can start going up again.
Right now, being patient is a good idea.
Do you think this is a major change before Bitcoin goes up again or the start of a bigger problem because of the economy? 👇
#Bitcoin #ETH #macro