Recent macroeconomic data in the United States has not encouraged strong buying of Bitcoin.
The price has reversed 100% of the gains triggered by this data, suggesting that investors are not willing to hold Bitcoin in the short term.
đ Does the term "market analogs" ring a bell? Think about it: it's been 30 weeks since BTC hit its all-time high.
In previous situations, when a new high is not recorded in that time, a drop of more than 50% has occurred. If repeated, the price could fall to $40,000.
