Analyst Warning: Bitcoin Price Decline Continues

In recent days, the fluctuations in Bitcoin prices continue to attract the attention of investors. Analyst Nic Puckrin emphasized that increasing macro uncertainty and the decreased likelihood of interest rate cuts have pulled Bitcoin's price down. On Thursday, the cryptocurrency market experienced another sharp wave, causing Bitcoin to fall below the 100,000-dollar level.

According to Puckrin's statements, Bitcoin traded at around 98,841 dollars during the day. The analyst's views, indicating that government shutdowns and interruptions in data flow are increasing pressure on investors, coincide with the market downturn. Additionally, it was reported that the production cost, which is historically considered a support level for Bitcoin, has risen to approximately 94,000 dollars. The aggressively increasing network difficulty has been a significant factor in this upward movement of the cost.

Another situation that investors should pay special attention to is that liquidations have exceeded 463 million dollars. Of these liquidations, 342 million dollars came from long positions, while there was an outflow of 278 million dollars from spot Bitcoin ETFs since the beginning of the week. Other major cryptocurrencies such as Ethereum and Solana also contributed to the market decline by dropping approximately 6%. Additionally, cryptocurrency-related stocks were not able to escape this drop; Nasdaq fell by 2.45%, and S&P 500 declined by 1.56%.

Puckrin stated in his morning evaluation that the government shutdown has quickly diminished expectations of interest rate cuts by preventing access to critical data such as the October Consumer Price Index (CPI) report. He expressed that this gap in federal data flow has sharply reduced the likelihood of interest rate cuts in December. The analyst emphasized that the markets are exhibiting a more cautious behavior ahead of the Federal Open Market Committee (FOMC) meeting.

In this context, it is essential to closely monitor macroeconomic developments regarding the fluctuations in Bitcoin prices and the decision-making processes of investors. Investors should primarily watch the 94,000-dollar support level and respond promptly to changes in market conditions.