PANews reported on September 5th that Spectra Markets President Brent Donnelly plans to place buy orders at $94,000 and $82,000 for Bitcoin to prepare for a potential market panic. He noted that the enthusiasm for digital assets as a corporate treasury asset is waning, and the seasonal factors of Bitcoin's halving cycle are turning bearish, which could lead to Bitcoin entering a long-term bear market. Historical data shows that Bitcoin's bull market typically peaks 16 to 18 months after a halving event, followed by a one-year bear market. Given that the last halving occurred in April 2024, this pattern suggests that the current bull market may be nearing its end. From a technical perspective, Bitcoin recently broke below the key support level of $111,982, confirming a breakout from a double top pattern. This level has now become resistance. Meanwhile, the US non-farm payroll data will be released on Friday. If the data is stronger than expected, it could weaken expectations of a Fed rate cut, further suppressing Bitcoin prices.PANews reported on September 5th that Spectra Markets President Brent Donnelly plans to place buy orders at $94,000 and $82,000 for Bitcoin to prepare for a potential market panic. He noted that the enthusiasm for digital assets as a corporate treasury asset is waning, and the seasonal factors of Bitcoin's halving cycle are turning bearish, which could lead to Bitcoin entering a long-term bear market. Historical data shows that Bitcoin's bull market typically peaks 16 to 18 months after a halving event, followed by a one-year bear market. Given that the last halving occurred in April 2024, this pattern suggests that the current bull market may be nearing its end. From a technical perspective, Bitcoin recently broke below the key support level of $111,982, confirming a breakout from a double top pattern. This level has now become resistance. Meanwhile, the US non-farm payroll data will be released on Friday. If the data is stronger than expected, it could weaken expectations of a Fed rate cut, further suppressing Bitcoin prices.
Spectra Markets President: If the non-farm payroll data is stronger than expected, it may weaken the Fed's interest rate cut expectations and further suppress the BTC price
PANews reported on September 5th that Spectra Markets President Brent Donnelly plans to place buy orders at $94,000 and $82,000 for Bitcoin to prepare for a potential market panic. He noted that the enthusiasm for digital assets as a corporate treasury asset is waning, and the seasonal factors of Bitcoin's halving cycle are turning bearish, which could lead to Bitcoin entering a long-term bear market.
Historical data shows that Bitcoin's bull market typically peaks 16 to 18 months after a halving event, followed by a one-year bear market. Given that the last halving occurred in April 2024, this pattern suggests that the current bull market may be nearing its end.
From a technical perspective, Bitcoin recently broke below the key support level of $111,982, confirming a breakout from a double top pattern. This level has now become resistance. Meanwhile, the US non-farm payroll data will be released on Friday. If the data is stronger than expected, it could weaken expectations of a Fed rate cut, further suppressing Bitcoin prices.
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