Analyst Links Bitcoin Plunge to Global Economic Shifts, Sees Less Severe Down Cycle

Bitcoin’s price has fallen sharply, dropping to its lowest levels in recent history. Crypto analyst Crypto Dan highlights a concerning down cycle for Bitcoin ($BTC), with back-to-back dips marking the worst scenario so far. Dan attributed this downturn to broader market trends and the potential impact of US policy shifts. 2023’s price decline is part of a long-term trend, following Bitcoin’s peak of $109,000 in January. While a quarter into a likely downtrend phase, past historical data suggests this downward movement may be less severe than previous market crashes.