#Bitcoin continues to decline below $100k, making lower lows.

Due to the ongoing short-term downtrend structure, it is extremely natural for $BTC to drop during this process.

If you do not understand the reason for the decline, it means you are not following the US stock markets closely enough. As I have frequently explained in recent months, Bitcoin has a high correlation with US stock markets.

This means Bitcoin follows the US stock markets; when the US stock markets rise, it rises, and when they fall, it falls.

All global markets were down yesterday due to the weakening probability of a rate cut planned for next month.

The probability appears to be 50%, meaning the FED will flip a coin at the December meeting. Financial markets do not like uncertainty at all, and if there is uncertainty, they fall.

In an environment where the interest rate decision is so uncertain and all global indices have fallen by 2-3%, it would already be very difficult for Bitcoin to hold above 100k.

Currently, the only thing to do is to wait for the break of the downtrend and closely monitor the US stock markets.

It would be foolish to expect Bitcoin to perform wonders while the US stock markets are falling. Additionally, the downtrend structure is already continuing, and it is extremely important for us to see the breakdown of this structure.

Apart from these two factors, other data may mislead during this process. Therefore, to understand the direction and make correct trades, it will be sufficient to only follow these two during this process.

I wish everyone a beautiful day and abundant profits.