There seems to be a floor on Bitcoin around 80k. If it doesn’t hold, the price could move towards 70k, but the 80k could be an agreement between institutional investors.
Currently there is risk-off in markets. Once interest rates lowered it will be risk-on again. At this point the bull market in cryptos will begin. These are the normal market dynamics and cryptos are a risk asset at this point in time. Cryptos could move ahead of the market in anticipation, but only once rate reductions start being discussed.
“The U.S. may be on the verge of a digital currency revolution.”
JM Bullion