Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Legislative deadlock and liquidation pressure are weighing on the Bitcoin market
Bitcoin is showing a softening trend. Multiple factors are intertwined behind this movement. The market is experiencing waves of forced liquidations, while at the same time, legislation related to cryptocurrencies remains stagnant, leading to a deadlock. The Fear and Greed Index has fallen into the fear zone, clearly reflecting a contraction in investor sentiment.
The deteriorating external environment surrounding the market cannot be ignored. Corporate Bitcoin purchases have slowed down, and global policy uncertainties are increasing. Additionally, the stagnation in AI-related stocks has led to a decline in sentiment across risk assets. Currently, the market’s bearish sentiment has reached 49.52%, with a cautious stance dominating.
In this environment, investor capital outflows are prominent. Flight to safe assets continues, with gold remaining at historically high levels. Meanwhile, stocks of Bitcoin-related companies like MicroStrategy have also come under downward pressure. Concerns over stock dilution due to ongoing Bitcoin purchases are weighing on their stock prices.
Currently, Bitcoin is trading around $92.22K, up +1.78% over the past 24 hours, but the upward momentum remains heavy. As long as legislative deadlock persists, the market is expected to continue facing difficulty in establishing a clear direction.