Bitcoin

Bitcoin, despite being in a downtrend, is actually in a healthy position based on fundamental analysis. A recent study by crypto analyst Kaleo indicates that Bitcoin is displaying more positive dynamics compared to the previous halving cycle. This perspective is quite intriguing given Bitcoin’s struggle to maintain stability above $54,000 and breach the $57,000 mark.
On September 6, the price of Bitcoin plummeted below $54,000, causing concern among traders as a massive wave of sell-offs hit the flagship cryptocurrency. This sudden drop was attributed to macroeconomic factors that painted a bleak future for Bitcoin. The decline in Bitcoin’s price followed a disappointing August job report in the US. Data from