In the short term, if US stocks continue to correct, BTC is likely to face pressure as well. However, if it’s only a normal pullback in tech stocks rather than a tightening of overall market liquidity, then BTC would be lagging down along with the market rather than having its fundamentals deteriorate on its own. Looking at the order book, every time BTC rebounds to around $65k, there is selling pressure. This suggests that many people are choosing to distribute their holdings here. So what the market lacks now is not good news, but new incremental capital. Only if fresh funds keep stepping in to buy, will BTC have a real chance to break through this level. $BTC

BTC-0.91%
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