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Will crypto recover? Why this ‘dip’ could be exactly what the market needs
In the last four years, investors’ risk appetite has hit a ‘burn-out’ point, with the rising dollar showing the way. A dip could be the perfect remedy.
The path ahead could be volatile – but also ripe with opportunity for those willing to hold firm. Coincidence or not, the FOMC meeting lined up perfectly with Bitcoin hitting an all-time high of $108K. A slight ‘blip’ on the macro front was all it took to send shockwaves through the market. In a matter of days, the gains of the previous week were wiped out, leaving Bitcoin teetering at a critical $93K support level. What seemed like solid profits is now either cashed out at break-even or hanging on to a loss. Clearly, these HODLers are holding out for a recovery. But to truly understand if crypto can recover, we must look beyond the speculations and explore the past, present, and future of this volatile market.
A strong entry point could emerge around the $90K mark, reigniting fear-of-missing-out (FOMO) and bringing buyers back into the fold. However, the stakes are high. With $671 million in net outflows from Bitcoin ETFs, it’s clear that investors are becoming more cautious. This dip could be exactly what the market needs to reset and recover.
It appears that we’re at a crossroads here. This could be a make-or-break moment for Bitcoin. As we move forward, it’s essential to keep an eye on the dollar index, ETF flows, and most importantly – who’s holding strong.
Source: ambcrypto.com
