📊 Factors affecting the price of Bitcoin ($BTC) 📉.

Bitcoin's price is the product of a dynamic mix of fundamental, technical and macroeconomic forces. Here are the key elements that shape its value:

🌍 Macroeconomic

- Inflation and monetary policy: BTC is seen as "digital gold" - it rises when central banks print money or lower interest rates.

- Systemic risk: Capital flight from traditional markets during crises (e.g., wars, bank failures).

- Dollar strength (DXY): A strong dollar often weakens BTC (and vice versa).

🔄 Supply and demand

- Halving: Every 4 years, the miner's reward drops by 50%, limiting the supply of new BTC.

- Institutional adoption: Investment by corporations, ETFs, or regulation (countries adopting BTC as currency).

- Retail market: Hype on social media, FOMO/FUD.

⚖️ Regulation and policy

- Domestic bans: Restrictions in key economies (China, US, EU) may dampen demand.

- Tax policy: Cryptocurrency taxation affects investment attractiveness.

- AML/KYC: Anti-money laundering requirements on exchanges.

💻 Technical and network

- Hashrate: An indicator of network computing power - higher hashrate = more security (and trust).

- On-chain metrics.

- Innovations: Development of Lightning Network, Taproot, or partnerships.

🎭 Market psychology

- Emotional cycle: From euphoria to capitulation (Wyckoff model).

- Media influence: Headlines about hacks (Mt. Gox), company collapses (FTX) or positive news (adoption countries).

- Fear & Greed indicator: Extreme fear = buy signal, extreme greed = sell signal.

📉 Competition and the crypto market.

- Altcoins: Success of Ethereum, Solana or DeFi may drain capital from BTC.

- Stablecoins: Increase in USDT/USDC supply often drives bull market.

- NFTs and metaverse: Hype for new trends can distract from BTC.

🔮 Forecasts vs. reality

Bitcoin is a speculative asset whose price reflects both technological value and global uncertainty.

Strategy: Track chain data (Glassnode), macro indicators and.... keep a cool head!

And what factors do you think are the most important? 👇💬

$BTC