$BTC O exhaustion of Bitcoin

Since its historical peak of nearly $110,000 in early June, Bitcoin has experienced a steep decline, losing a significant portion of its value. This drop occurs in the context of monetary tightening by the U.S. Federal Reserve and rampant inflation, which have harmed the appetite for risk assets like cryptocurrencies.

Today, Bitcoin appears to have entered a consolidation phase, marked by reduced volatility and a lack of upward momentum. Investors, both professional and retail, are taking a wait-and-see approach, cautiously awaiting the next developments in the market.