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Home News Crypto

Bitcoin Could Drop to $50K Before a Potential Fed-Driven Rally

by Team Lumida
July 6, 2024
in Crypto
Reading Time: 3 mins read
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Bitcoin Could Drop to $50K Before a Potential Fed-Driven Rally

"Bitcoin, bitcoin coin, physical bitcoin, bitcoin photo" by antanacoins is licensed under CC BY-SA 2.0

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Key Takeaways

  1. Fear & Greed Index plummets to 29, signaling extreme fear.
  2. Bitcoin’s Price could drop to $50,000 due to government sell-offs.
  3. Federal Reserve rate cut in September may ignite a rally.

What Happened?

Crypto investor sentiment nosedived as the widely-followed Crypto Fear & Greed Index dropped to 29, its lowest level since January 2023. Bitcoin’s price fell below $54,000, pulling down the entire digital asset market. The plunge was primarily driven by the sales of seized BTC by the German and U.S. governments and the ongoing refunds from the Mt. Gox estate, which created a multibillion-dollar overhang.

Why It Matters?

Investor sentiment metrics like the Fear & Greed Index serve as contrarian indicators for market movements. The current extreme fear level suggests potential buying opportunities. However, Rachel Lin from SynFutures warns of further downside due to continued selling pressure from government holdings and Mt. Gox refunds.

This is crucial for your investment thesis because it indicates that the market could still experience significant volatility before stabilizing.

What’s Next?

Bitcoin might drop further to around $50,000, especially during the historically weak months of August and September. Markus Thielen of 10x Research noted that ETF holders and miners might liquidate more positions in response to the ongoing market conditions.

However, a potential Federal Reserve interest rate cut in September could act as a catalyst for a market rally, offering a glimmer of hope for investors.

Source: Coindesk
Tags: BitcoinFear & Greed Index
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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