Bitcoin is under heavy pressure ๐ just days before the FOMC meeting ๐๏ธ. Here are the top 5 reasons why BTC is struggling right now:
1๏ธโฃ Middle East Conflict ๐: The Israel-Iran situation is getting worse, causing high volatility ๐ต. Investors are scared, and prices are falling fast ๐.
2๏ธโฃ FOMC & Powellโs Speech ๐ข: While no rate change is expected, markets are nervous about what Jerome Powell might say ๐. Two rate cuts are expected later this year.
3๏ธโฃ On-Chain Sell Signals ๐ง : Glassnode data shows new BTC holders are selling fast, while long-term holders are stepping back ๐โโ๏ธ.
4๏ธโฃ Late Bull Market Phase ๐ฅ: Analyst Willy Woo says BTC is in the final bullish stage. A bear market could be coming soon ๐ป.
5๏ธโฃ $BTC Breaks Key Support ๐งฑ: Bitcoin failed to hold $106K and is now around $105K. Analysts warn next support is $100K ๐จ.
๐ Trading volume jumped 25% in the last 24h, showing panic and high activity โ ๏ธ.
Stay alert, stay updated! ๐ง ๐ก #bitcoin #FOMCMeeting
