Svmuu News: Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque believe that Bitcoin is at a key technical level.
Matt Maley said that if Bitcoin falls further from its current level of around $60,000, it could exacerbate negative investor sentiment.While Wall Street firms continue to invest in digital assets, retail investors—who have historically been the main driving force behind cryptocurrency rallies—have shifted their attention to high-growth AI and tech stocks. Recent significant outflows from the Bitcoin ETF indicate waning investor enthusiasm. Cryptocurrencies are also showing signs of decoupling from the stock market.
John Roque noted that Bitcoin is retesting its first downside target of $60,000; a break below this level would signal a decline toward $400,000.Matt Maley added that Congress may pass a crypto framework bill with clearer rules, which would reduce uncertainty and encourage institutional participation in the long term. Additionally, the Bitcoin ETF recently experienced its largest monthly outflow since 2024. (CNBC)