Bitcoin has been falling for four consecutive months, the longest such streak I've seen in my eight years in the industry!
There are many reasons for this, but the most important is the lack of liquidity in the market. In other words, the biggest facilitator, the Federal Reserve, has kept interest rates too high for an extended period, effectively draining the market. After the previous three halvings, the Fed's highest interest rate was only 1.5%, or even 0%. Now, after so many rate cuts, the rate is still above 3.5%!
In this situation, a bull market doesn't resemble a bull market, and a bear market is raging. Perhaps $BTC really will bottom out at $50,000. Will we see ETH at three-digit levels then? (Please type 1 for $ETH)