#比特币连续五周下跌 🚨 Bitcoin has closed lower for five consecutive weeks! BTC falls below $75,000, and the real risks may not be over yet!
The Bitcoin market is going through a prolonged correction!
As of November 8, BTC had posted losses for five consecutive weeks, with the latest week down about 4.5% and the total five-week decline exceeding 13%.
More concerningly, Bitcoin not only briefly fell below $74,000, but also dropped below the important 50-week moving average.
Meanwhile, U.S. spot Bitcoin ETFs saw net outflows of about $1.28 billion last week, the largest weekly withdrawal since the end of June.
In my view, the real danger in this decline isn’t a sudden crash on any single day, but that five consecutive weeks of rebounds have failed to reverse the market’s overall weakening trend.
On one hand, U.S. tech stocks are under pressure, and investors’ risk appetite is declining; on the other, strong U.S. employment data have raised expectations of a rate hike in December, putting greater liquidity pressure on the crypto market.
More importantly, although BTC has rebounded several times recently, selling pressure overhead has not noticeably eased.
This suggests the market isn’t short of short-term buyers; what it really lacks is fresh capital capable of driving prices higher on a sustained basis.
My view is that the key thing to watch now is whether BTC can regain and hold around $75,000—not to blindly assume that a bottom is already in.
If BTC can break back above and hold the 50-week moving average, market sentiment may gradually recover.
But if it continues to lose key levels, alongside continued ETF outflows, it may face further near-term declines.
U.S. CPI data are due soon, and they will be an important factor influencing the market’s direction.
I’d rather wait for signs of stabilization after the pullback and watch for buying support at lower levels than rush to chase a rebound after consecutive declines.
The Bitcoin market is going through a prolonged correction!
As of November 8, BTC had posted losses for five consecutive weeks, with the latest week down about 4.5% and the total five-week decline exceeding 13%.
More concerningly, Bitcoin not only briefly fell below $74,000, but also dropped below the important 50-week moving average.
Meanwhile, U.S. spot Bitcoin ETFs saw net outflows of about $1.28 billion last week, the largest weekly withdrawal since the end of June.
In my view, the real danger in this decline isn’t a sudden crash on any single day, but that five consecutive weeks of rebounds have failed to reverse the market’s overall weakening trend.
On one hand, U.S. tech stocks are under pressure, and investors’ risk appetite is declining; on the other, strong U.S. employment data have raised expectations of a rate hike in December, putting greater liquidity pressure on the crypto market.
More importantly, although BTC has rebounded several times recently, selling pressure overhead has not noticeably eased.
This suggests the market isn’t short of short-term buyers; what it really lacks is fresh capital capable of driving prices higher on a sustained basis.
My view is that the key thing to watch now is whether BTC can regain and hold around $75,000—not to blindly assume that a bottom is already in.
If BTC can break back above and hold the 50-week moving average, market sentiment may gradually recover.
But if it continues to lose key levels, alongside continued ETF outflows, it may face further near-term declines.
U.S. CPI data are due soon, and they will be an important factor influencing the market’s direction.
I’d rather wait for signs of stabilization after the pullback and watch for buying support at lower levels than rush to chase a rebound after consecutive declines.
