💥The Market is Losing Confidence, But is BTC Still a Store of Value?
Despite warnings of a bear market, some government officials are highlighting Bitcoin's long-term potential. U.S. Treasury Secretary Scott Bessent praised BTC as a "store of value" by comparing it to gold. This comment suggests that institutional confidence in Bitcoin has not been completely shaken.
However, considering technical and on-chain data, it would not be incorrect to say that the bull season has currently ended and that investors should be cautious. All eyes will now be on both the Fed's interest rate decisions and on-chain selling pressure. Because these factors will be the biggest indicators determining BTC's future.
The BTC Bull Market is Over, So What Will Happen to Altcoins?
During this period of the end of the Bitcoin bull season, there is one question on investors' minds: Is the altcoin season beginning? The slowdown in Bitcoin may lead to capital flowing into alternative crypto assets. This indicates that we may see lively days in the altcoin market in the coming weeks.
