Why is BTC Crashing? Analyst Blames TradFi Markets, Predicts Imminent Rebound Soon
- Samson Mow thinks the main Bitcoin bull run is around the corner.
- Mow blamed TradFi markets for Bitcoin’s recent decline.
- Bitcoin fell 14.5% in the past week, dragging other cryptocurrencies along.
Despite the recent price crash, prominent Bitcoin personality Samson Mow thinks the main Bitcoin bull run is around the corner. In a recent post on X, the JAN3com CEO noted that the recent BTC pullback is a temporary event caused by TradFi markets and amplified by increased surface area because of ETFs.
#Bitcoin is just being dragged down temporarily by TradFi markets – amplified because of increased surface area due to ETFs. But with M2 on the rise again it feels like the main event is almost here.
— Samson Mow (@Excellion) August 3, 2024pic.twitter.com/uecfBUnD5D
Meanwhile, Mow predicted the return of bullish Bitcoin momentum, spotting a surge in M2, which is the money supply that includes cash and checking deposits and easily convertible near money.
Bitcoin crashed by 14.5% in the past week after a bullish run that led many crypto users to assume the bull market had resumed. BTC reversed sharply after rallying above $70,000 for the first time in six weeks.…
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