In this video, we break down Bitcoin on the 4hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading down roughly 2.5% over the past 24 hours, slipping below the psychological $63,000 threshold to hover around $62,500 to $62,840. The cryptocurrency market is experiencing downward pressure primarily driven by macro-equity correlation, persistent institutional outflows, and mixed geopolitical updates.
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Bitcoin Insights Today
-Equities Spillover: Digital assets are tracking a sharp sell-off in high-flying technology and semiconductor stocks on the Nasdaq, reducing overall global risk appetite.
-Institutional Selling: Spot Bitcoin ETFs recorded another round of mild net withdrawals, marking six consecutive weeks of net institutional outflows and maintaining a negative Coinbase premium.
-Geopolitical Headwinds: Conflicting signals out of Washington and Tehran regarding progress on U.S.-Iran diplomatic talks and IAEA nuclear inspection protocols have infused fresh uncertainty into macro markets.
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