Analyst Jacob King is warning about the trajectory of Bitcoin and the broader crypto market, pointing to several developments that he believes could trigger a prolonged bear market. These include MicroStrategy's decreasing Bitcoin purchases, El Salvador's shift away from Bitcoin-focused policies, and BlackRock's large sales of BTC holdings. King also notes that Tether has not minted any new tokens in over 20 days, which coincides with Bitcoin's recent price stagnation. He warns that the potential downturn in the crypto market could coincide with a broader stock market crash and advises investors to reassess their risks. Bitcoin is currently trading at $98,387.00.



Other News from Today