#本周美国将公布PCE、GDP数据
Bitcoin faces challenges: Analysis of three major concerns about the $64,500 resistance level
Bitcoin's recent rise has been encouraging, but it seems to be struggling in front of the $64,500 resistance level. Let's take a look at what's going on behind the scenes!
1. Weak macroeconomic data
Recent economic data has made investors worried. The median price of new home sales in the United States fell 4.6% year-on-year in August, the fastest decline since 2022. This means that house prices have fallen for seven consecutive months, the longest decline since 2009. In addition, inventory remains high, with 467,000 new homes on the market. Weak economic data directly affected investors' risk appetite, causing Bitcoin to lose its upward momentum.
2. Concerns about stock market adjustments
Just as Bitcoin was under pressure, bad news came from the U.S. stock market. Berkshire Hathaway announced a substantial reduction in its holdings of Bank of America shares, with a cumulative reduction of up to $8.9 billion. This has caused the market to worry about potential adjustments in the stock market, which is likely to affect the cryptocurrency market. Many traders have become cautious in this uncertainty, fearing that stock market volatility will have a negative impact on Bitcoin prices.
3. Uncertainty in the US election
The upcoming US presidential election is also a major hidden danger. Democratic candidate Harris's policies are believed to be likely to continue the current government's restrictions on cryptocurrencies, which makes many Bitcoin investors uneasy. On the contrary, many people are optimistic about Trump's support, believing that if he is elected, it may improve the environment for Bitcoin miners. However, when the election situation is unclear, market sentiment is particularly cautious, especially for leveraged traders.
In summary, weak macroeconomic data, potential adjustments in the stock market, and the uncertainty brought about by the US election have jointly led to Bitcoin's challenge at $64,500. These factors make market sentiment cautious, and we need to keep an eye on it and adjust our strategies in time! 🚀💡