- The Bitcoin market had initially tried to recover during the trading session on Wednesday.
- It then gave back gains to show signs of exhaustion.
- The Bitcoin market has been relatively positive for a while, but Bitcoin does not work by itself and lives in a vacuum.
The $25,000 level above continues to be difficult, and therefore I think if the market were to pay close attention to that level as we have been for a while, it does make a certain amount of sense that we have seen a lot of trouble yet again. In fact, I believe that the $25,000 level might end up being the top, but we will have to wait and see what the bond market does. This is because Bitcoin does not work outside of the rest of the financial world anymore. After all, there has been a lot of institutional money flying into the market, which has been good for the price previously, but it also means that Bitcoin will start to act like a more mature financial asset.