"Hmm somehow the price of BTC now fluctuates and fluctuates in the same place as before."
The price momentum of cryptocurrency king Bitcoin (BTC) weakened again to $63,666 as there was a significant sell-off where more than 40 million long positions were liquidated which raised concerns among investors and analysts.
The BTC funding rate that turned negative before the halving event also shows that crypto market sentiment has changed to a downward trend following short positions overtaking long positions.
Even so, investors are now more bullish than bearish on BTC after the price saw a positive impact during the recent halving event compared to before, so here we can see the potential for a long-term uptrend to take place.
However, the termination of more than $9.4 billion worth of crypto options will soon cause an uncertain movement in the crypto market plus investors who are interested in keeping an eye on the matter.
On the other hand, two US investment advisors, Legacy Wealth Asset Management from Minnesota and United Capital Management from Kansas have allocated 6% and 5% of their portfolios to the Fidelity Wise Origin Bitcoin Fund (FBTC).
It is also worth noting that the creator of the popular 'Bitcoin Power Law' has predicted that BTC will reach $218,875 in November 2025 before its price falls back to $96,677 in December 2026.
As of this writing, BTC price has plunged by 3.44% to $64,479 in the last 24 hours with a market cap of over $1 trillion but is still up 4.81% over the last week.
