$BTC

Good news materializes, but why is Bitcoin plummeting?

I've really seen it all! After signing an agreement with Dongda, the stock market soared, yet Bitcoin took a nosedive, leaving many people dumbfounded! What’s going on with this operation? The truth is, the reason for Bitcoin’s drop comes down to these few "hard injuries"! First, **good news turning into bad news**. The long-awaited agreement finally materialized, and all the good news has been used up, with no new expectations in sight in the short term. Many seasoned investors decided to take profits and run for safety. However, there's no need to panic; the market hasn't revealed any major risks. Bitcoin is currently holding around $100,700, and there’s a support line at $99,000, which means it won't collapse immediately. Secondly, **demand for safe-haven assets has flatlined**. Previously, during the MY war, Bitcoin could serve as a safe-haven tool, but now that the storm has calmed, who still hoards Bitcoin as a "talisman"? Another key point is that **there's no sign of interest rate cuts**. Without the hype of interest rate cuts, Bitcoin struggles to rally. Additionally, tonight there’s a **CPI data "test"**, which is like a "time bomb"; investors fear stepping on landmines, so they are withdrawing to wait and see, which is understandable. Finally, we need to see **if US stock market funds will come to the rescue**. If US