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Analysis: Bitcoin's 5 consecutive days of "calm" volatility hide risks, increasing the possibility of a drop to $40k.

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Golden Finance reported that Bitcoin has been oscillating narrowly within the $59,000 to $60,000 range for the fifth consecutive day. Analysts warn that this "calm" market may hide greater risks, and the key lies in the current oscillation occurring within a downtrend. FxPro's chief market analyst Alex Kuptsikevich stated that the current trend resembles Bitcoin's consolidation between $55,000 and $70,000 from March to October 2024, but the contexts are different. That previous consolidation occurred in a rising market, while this oscillation is below the support level, and both the 50-day and 200-day moving averages are declining, indicating a bearish market sentiment. If this consolidation pattern breaks downward instead of forming a foundation for a rebound, Bitcoin's next significant support area could be around $40,000.
Additionally, the strengthening of the U.S. dollar and the continuous flow of funds into AI-related assets in the U.S. stock market have also put pressure on dollar-denominated risk assets like Bitcoin. Currently, Bitcoin is expected to end the second quarter with a quarterly decline of approximately 13%, while the U.S. stock market has performed strongly due to the AI investment boom.
BTC3.56%
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