Bitcoin Drops to $67,000 as Analysts Suggest Market is Reevaluating Price Amidst Halving Uncertainties

Bitcoin dropped to $67,000, tracking overnight losses in gold and Nasdaq. Fading Fed rate cut bets likely catalyzed the drop, one analyst said.

The price correction indicates the market is adjusting its expectations on bitcoin given the uncertainties presented by the halving event, said one CEO.

It is very difficult for these short sell-offs to put a lasting dent on the uptrend as long as the daily BTC spot ETF demand remains strong, said one firm.

Bitcoin’s recent surge has been too fast for the market to price correctly, so the current correction is expected, said one exchange head.

A prediction market now gives just a 38% chance that BTC will close above $70,000 by Friday, down from 90% earlier this week.