In this video I break down the latest Bitcoin price structure using Elliott Wave analysis to determine if we are near a bear market low. I share the key support and resistance levels to watch as we head into the new trading week and explain why the current consolidation might be part of a larger corrective pattern. Video by More Crypto Online.
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Bitcoin (BTC) has broken below the critical $60,000 threshold, hitting intraday lows near $59,435 amid aggressive institutional de-risking and a heavy rotation of capital into AI equities. The digital asset is currently experiencing a severe short-term liquidity crunch and macro headwinds, representing a 20% decline from its monthly highs.
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Bitcoin Insights Today
Institutional Capital Exodus
According to reports from Deutsche Bank via CoinDesk, U.S. spot Bitcoin ETFs have logged a record 30-day net outflow exceeding $6 billion. Institutional demand remains flat, as evidenced by stagnant positioning on the Chicago Mercantile Exchange (CME).
The "AI Trade" Distraction
Risk capital is aggressively shifting away from digital currencies and precious metals. Investors are prioritizing high-flying artificial intelligence infrastructure and chip stocks, causing hard assets to look less attractive.
Global Macro Pressure
A strengthening U.S. dollar and a hawkish stance by the Federal Reserve under Chair Kevin Warsh are suppressing high-risk assets. Additionally, new regulatory enforcement actions under Europe's MiCA framework to restrict unlicensed exchanges have compounded market anxiety.
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