The post Is the Situation So Bad for Bitcoin? Has the Trend Changed? The Famous Name Who Manages Billions of Dollars Answered! appeared on BitcoinEthereumNews.com. The decline in Bitcoin (BTC) and the cryptocurrency market has deepened in recent days. While expectations of further declines in Bitcoin are growing, one analyst said that the recent decline in BTC is not a trend reversal but a healthy correction. Ryan McMillin, Chief Investment Officer (CIO) of MerkleTree Capital, said that the recent drop in Bitcoin’s price is a temporary adjustment within the current cycle. Speaking to Cointelegraph at The Bridge conference in New York, Ryan McMillin stated that the decline was not caused by a single event but rather a combination of factors. McMillin identified three primary reasons for the recent decline: “Significant profit-taking by long-term investors, net outflows in spot Bitcoin ETFs, and heightened global macroeconomic risks.” “Long-term investors are taking profits after the rally, and the environment supporting market liquidity has weakened. ETF purchases, which triggered the initial rise, have slowed, and interest rate cut expectations have also receded. McMillin noted that the current market structure is significantly different from the past, with liquidity from ETFs and institutional investors absorbing a significant portion of the sell-off compared to previous cycles. Therefore, McMillin stated that the recent decline was not a trend change and said: “The recent price drop in Bitcoin is a healthy adjustment within the current cycle. It does not represent a trend reversal, as Bitcoin’s fundamentals remain strong. The current market structure is different from the past, with ETF and institutional liquidity accounting for a large portion of the selling. The current influx can be seen as a healthy adjustment phase.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/is-the-situation-so-bad-for-bitcoin-has-the-trend-changed-the-famous-name-who-manages-billions-of-dollars-answered/The post Is the Situation So Bad for Bitcoin? Has the Trend Changed? The Famous Name Who Manages Billions of Dollars Answered! appeared on BitcoinEthereumNews.com. The decline in Bitcoin (BTC) and the cryptocurrency market has deepened in recent days. While expectations of further declines in Bitcoin are growing, one analyst said that the recent decline in BTC is not a trend reversal but a healthy correction. Ryan McMillin, Chief Investment Officer (CIO) of MerkleTree Capital, said that the recent drop in Bitcoin’s price is a temporary adjustment within the current cycle. Speaking to Cointelegraph at The Bridge conference in New York, Ryan McMillin stated that the decline was not caused by a single event but rather a combination of factors. McMillin identified three primary reasons for the recent decline: “Significant profit-taking by long-term investors, net outflows in spot Bitcoin ETFs, and heightened global macroeconomic risks.” “Long-term investors are taking profits after the rally, and the environment supporting market liquidity has weakened. ETF purchases, which triggered the initial rise, have slowed, and interest rate cut expectations have also receded. McMillin noted that the current market structure is significantly different from the past, with liquidity from ETFs and institutional investors absorbing a significant portion of the sell-off compared to previous cycles. Therefore, McMillin stated that the recent decline was not a trend change and said: “The recent price drop in Bitcoin is a healthy adjustment within the current cycle. It does not represent a trend reversal, as Bitcoin’s fundamentals remain strong. The current market structure is different from the past, with ETF and institutional liquidity accounting for a large portion of the selling. The current influx can be seen as a healthy adjustment phase.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/is-the-situation-so-bad-for-bitcoin-has-the-trend-changed-the-famous-name-who-manages-billions-of-dollars-answered/