Bitcoin's Big Slide: What's Next for the Crypto King?

Bitcoin's Recent Performance

• Current Value: Below $95,000
• Weekly Loss: 9%
• Lowest Point: Since May

Other Cryptocurrencies

• Ethereum: Down 11%
• Solana: Down 15%
• XRP: Only a 1% dip, possibly due to its new spot ETF

Crypto-Related Stocks

• MicroStrategy: Down 4%
• Mining Companies: Losses between 4% and 7%
• Bright Spots:
• Hut 8: Up 6% after good earnings news
• Robinhood: Small gains
• Riot Platforms: Small gains

Why Is This Happening?

• Uncertainty in the U.S. Economy
• Federal Reserve's Plans: No clear information
• Government Shutdown: Delayed important economic data
• Temporary Funding: Investors remain worried

Expert Opinions

• Necessary Correction: After a long period of sideways trading
• Long-Term Strength: Possible once this phase is over
• Key Factor: Overall economic situation
• Potential Boost: If the Federal Reserve eases interest rates or injects more liquidity

Technical Outlook

• Next Support Level: Around $84,000 if it breaks below $100,000
• Waiting Game: To see where Bitcoin will land next