Bitcoin Falls Below $4,000 Yet Again, What are the Factors?30.4

In spite of a number of positive industry developments, namely the announcement of a Nasdaq and VanEck-backed “crypto 2.0” futures plan, Bitcoin (BTC) continued to toss and turn on Monday morning. At first, many thought BTC was going to hold $4,000, as the market tried and failed to breach the aforementioned level of technical and psychological support. Eventually, however, the bears gained the upper hand over the bulls, pushing the asset quickly below $4,000 to a daily low of $3,900 on Coinbase to the chagrin of cryptocurrency optimists.

Like BTC’s previous sell-offs, analysts weighed in on the price action, aiming to determine where cryptocurrencies will step next.

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