I'm pretty sure we need more time to break 40k, but with Bitcoin anything is possible. S&P 500 got a little bounce yesterday but is still much lower than it was 5 days ago. Nasdaq again lower today than it was on the 20th... This Bitcoin move is fueled purely by Bitcoin itself. It can be amplified or quashed by the stocks in the coming weeks.
Dont think the stock market is making the effect on bitcoin in this case, we have the habit of correlating things too much, I think they are both moving on their own accord. The fiat market in my country is dropping and bitcoin also started like that but bitcoin is now recovering while the fiat market here is still dropping.
Therefore I am putting money into stocks I wished to buy at low and also placed buy orders on bitcoin at 30k.
Bitcoin-Nasdaq correlation is at all time high. Maybe not all stocks are linked to BTC, but tech stocks are for sure. BTC had it bounce back while indexes fell 2 days back, but that's because it had corrected much more and came close to the point of mining cost. It's not easy to make bitcoin run below the cost of mining. It happened before, but we always had fast bounces above when miners refused to sell at a loss.
I've searched on Youtube by using the keyword "bitcoin" yesterday and the results were hilarious.
All those clickbait videos with crazy thumbnails and all that overreaction and attention seeking.
All the bombastic headlines,like "You'll be shocked,If I tell you the truth about the current Bitcoin price crash!"
As if all those clowns and idiots on Youtube know the real reasons behind Bitcoin price drops.
Anyway,you are pretty much right about the current situation on the market and Bitcoin fundamentals,but I keep thinking that the Bitcoin price was overinflated back in 2020-2021 and the next 1-2 years we won't be seeing crazy 60-70K USD price levels.There's little hope that I might be wrong about this.
And their headlines are hilarious.
"Bitcoin bloodbath, get ready for maximum pain" "bear market confirmed, it's over for bitcoin" and the same people 2 months later were saying to buy bitcoin for 60k and not miss out on the opportunity of a lifetime
I'm disappointed by most youtube channels. They claim to know what's going on, claim to be crypto enthusiasts, yet every time the price moves they amplify the market sentiment by running around like headless chickens.
Actually, in 2 years we'll be very close to another halving and this usually works wonders for Bitcoin. The negativity rarely drags on for more than 6 months. Just wait until 1h chart moves forward so much that the November/December drops won't fit on people's screens and they'll act like it was never there