Bitcoin’s November Forecast: Pessimistic Outlooks vs. Optimistic Projections

Bitcoin (BTC) and other cryptocurrencies are experiencing a sharp decline, prompting analysts to explore various potential outcomes for the remainder of November. Factors contributing to this downturn include waning expectations for interest rate cuts from the Federal Reserve, prolonged US government shutdown uncertainty, and declining investor confidence. Analysts believe market pressure is driving much of the decline. Notably, CoinGlass data reveals nearly all liquidated positions were long (bullish) positions. This selling frenzy has further fueled short-term downward pressure.