Bitcoin Crash: Will $BTC Price Drop Below $100K?

On June 5, Bitcoin (BTC) experienced a significant crash to $100,000. This sudden downtrend comes on the back of Elon Musk and Donald Trump’s crash out regarding cutting the deficit.

Regardless, technical analysis shows buyer strength that has pushed BTC price up by 3.40% today from the June 5 swing low of $100,305 formed at 4 pm ET.

Will this bounce reduce the risks of a further crash? Will BTC price drop below $100K? Let’s find out.

As predicted in previous articles, this Bitcoin crash was highly likely due to the muted 30-day implied volatility and a drop in CME futures and options open interests.

BlackRock offloading Bitcoin for Ethereum, leading to 11 consecutive days of ETH ETF inflows, could be another reason for the BTC price crash.

Markets are also considering the Circle IPO and its debut on Nasdaq as one of the reasons why liquidity may be moving out of Bitcoin and other top coins and into traditional markets.

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