Bitcoin (BTC) don slip enter deep bear-market wata as ETF flows, CPI and FOMC dey come
Bitcoin (BTC) dey trade near im long-term 200-week moving average and dem estimate say e dey for the lowest 10% of im historical valuation range, while sentiment still extremely bearish (Crypto Fear & Greed Index na 9). The article warn say bottoms often need “capitulation” first and fit be followed by months of sideways grinding.
Price action weak: BTC briefly test under $60,000 for the first time since 2024, then recover to around $62,623 (+1.9% that day), but the weekly trend still soft. One key drag na the continued outflows from spot Bitcoin ETF, wey dem describe as the longest consecutive net outflow streak.
Macro and policy risks dey rise. US May CPI accelerate to 0.5% m/m and 4.2% y/y (the strongest since early 2023), even though core inflation softer (0.2% m/m). Bets on US “Clarity Act” expectations weak too (Polymarket odds down to 48%). Ahead of the June 16–17 FOMC, Bitcoin (BTC) dey face clear fork: a more supportive Fed fit push prices toward $68k–$72k, while an unhelpful tone raise the risk of another move below $60,000.
Bearish
Di nyuz dem na net bearish for Bitcoin (BTC) because sell pressure still structural: ongoing spot Bitcoin ETF outflows dey drain demand even as price dey rebound. At di same time, macro data (US CPI wey don start accelerate again) dey increase di risk say Fed go less dovish for di June 16–17 FOMC, we fit make yields/discount rates stay high and weigh down crypto beta. Finally, expectations for policy clarity (Clarity Act) don weaken, remove one potential catalyst. Together, dis support di article's thesis of late-stage bear-market grind, with higher risk say market go test below $60,000 again before any sustained recovery.