#MarketPullback The price of Bitcoin today has decreased, and here are the main reasons for this decline:
🧭 Reasons for the decline
Failure to break resistance around $108,000
Bitcoin attempted to overcome the resistance level of approximately $108,000 but failed, causing buyers to be more cautious and sellers to become more active, continuing to sell.
Hopes for a Federal Reserve rate cut are fading
After the consumer price index (CPI) data on June 11, expectations changed; the chances of a rate cut at the Federal Reserve meeting on June 18 seem extremely unlikely — about 99.8%, which weakened market sentiment towards risk assets like Bitcoin.
Decreased risk appetite globally
The resumption of geopolitical tensions between the U.S. and Iran, as well as the suspension of trade negotiations between the U.S. and China, prompted investors to seek safe assets, negatively impacting Bitcoin.
Profit-taking after record growth
Bitcoin peaked around $112,000 in May, followed by profit-taking, especially in altcoins, leading to an overall