Bitcoin Price Prediction: Will the BTC Price Crash to $35,000?In the aftermath of the spot ETF green light, Bitcoin has encountered a notable decline over the past 48 hours, with prices consistently trending downward.1. How has the Bitcoin price moved in recent days?The BTC/USD Daily Chart on TradingView reveals a decline following the approval of Bitcoin Spot ETFs. While there were marginal fluctuations initially, the commencement of Thursday's ETF trading saw a brief surge to $49,000, reminiscent of levels seen in March 2022. However, the gains were short-lived, with a significant downturn on Friday, pushing the price from over $45,000 to below $44,000. In the past 24 hours, Bitcoin has incurred a loss exceeding 8%, currently trading at $42,781.2. Bitcoin Price Prediction: Reasons for the Bitcoin crash?The approval of Bitcoin Spot ETFs initially brought optimism, but the subsequent retracement and downturn indicate market volatility. Factors contributing to this decline include uncertainties around global economic conditions, regulatory concerns, and profit-taking by traders after recent highs.3. Is FTX Also Responsible for the Bitcoin Sell-off?Rumors circulate about FTX's potential role in the Bitcoin sell-off, suggesting a cascade effect triggered by a large sell order on the platform. While unconfirmed, such events can exacerbate market fluctuations and contribute to the current bearish sentiment. Bitcoin Price Prediction: Will the BTC Price Crash to $35,000?The looming question on investors' minds: Could the BTC price crash further to $35,000? While no prediction is certain, the current market dynamics signal a need for cautious optimism. Monitoring key support levels, global economic indicators, and regulatory developments will be crucial in anticipating future price movements. Stay Informed, Stay Vigilant! Follow The Defidraft for Real-time Crypto Insights!
