Crypto Market Drop as Bitcoin Touch New Low Amid Profit Taking, Fed Rate Wahala, and Geopolitical Tension
Di crypto market don dey go down steady steady, as Bitcoin recently reach $100,470—na im lowest level since May 8 and e show say e fall 10% from the highest level wey e reach this year. Dis drop na because three main tins. First, plenty people dey take profit after big increase: Bitcoin climb about 50% from April to May, Ethereum double, and main altcoins like Dogwifhat shine pass. Second, Federal Reserve policy about interest rate no too clear, plus dem no go reduce rate quick quick, this one make people no too wan risk. Plus, new US inflation data go also affect market and policy. Third, ongoing wahala between US and China geopolitically—like new US export restrictions and Chinese response—don increase uncertainty for the market worldwide. This correction don make liquidations increase, and crypto investors dey bearish, but technical analysis talk say Bitcoin get support near 50-day moving average and fit get one bullish continuation pattern. Crypto traders suppose dey watch inflation data and Federal Reserve policies well well, as dem fit cause sharp short-term price changes and increase market volatility.
Bearish
Di market dey see clear short-term correction because people dey take profit after big rally for major cryptocurrencies like Bitcoin and Ethereum. Also, Federal Reserve no clear whether dem go cut interest rates, and as US inflation data go drop soon, e dey increase uncertainty plus e dey put pressure for crypto prices to fall. The geopolitical wahala wey dey between US and China dey make people afraid to take risk, and this one dey weaken market confidence more. Even though Bitcoin fit get some technical support for its 50-day moving average and e fit show say e go continue to climb, the heavy liquidations and big macro uncertainty make the immediate outlook ginger for crypto market. Traders suppose dey careful as these macroeconomic and geopolitical things go keep volatility high for short term.