Bitcoin Plummets Below $63,000: Why Is BTC Going Down Again?
Bitcoin (CRYPTO: BTC) has opened the week down 1.5% on Monday, which nonetheless may be part of a bottom formation, according to a veteran investor. Bitcoin Rally After July 29? In a podcast with Anthony Pompliano on July 12, veteran macro investor Jordi Visser said Bitcoin is showing technical signs of a bottom after registering its first bullish RSI divergence since the market peak. He added that while another move toward $50,000 or even $45,000 cannot be ruled out, Bitcoin is likely to trade above $100,000 within a year. Visser said his outlook is supported by a shift in macro conditions, arguing that expectations for additional Federal Reserve rate hikes have become too aggressive. He pointed to the July 29 FOMC meeting as a key catalyst, estimating there is a 35%-40% chance of a rate hike. If the Fed leaves rates unchanged, he believes Bitcoin could rally above $70,000 as markets...
Bitcoin (CRYPTO: BTC) has opened the week down 1.5% on Monday, which nonetheless may be part of a bottom formation, according to a veteran investor.
Bitcoin Rally After July 29? In a podcast with Anthony Pompliano on July 12, veteran macro investor Jordi Visser said Bitcoin is showing technical signs of a bottom after registering its first bullish RSI divergence since the market peak.
He added that while another move toward $50,000 or even $45,000 cannot be ruled out, Bitcoin is likely to trade above $100,000 within a year.
Visser said his outlook is supported by a shift in macro conditions, arguing that expectations for additional Federal Reserve rate hikes have become too aggressive.
He pointed to the July 29 FOMC meeting as a key catalyst, estimating there is a 35%-40% chance of a rate hike.
If the Fed leaves rates unchanged, he believes Bitcoin could rally above $70,000 as markets begin pricing in a less restrictive policy path.
BTC’s Long Term Role In Financial System Visser argued that Bitcoin has lagged over the past year as capital rotated aggressively into AI infrastructure plays.
With that rotation beginning to normalize, he expects investors to rediscover digital assets.
Pointing to Treasury Secretary Scott Bessent’s recent comments on modernizing the U.S. financial system, he also cited growing government support for tokenization, stablecoins and digital asset infrastructure as a structural tailwind.
According to Visser, AI-driven commerce, tokenization of real-world assets and stablecoin adoption will increase the velocity of money and strengthen Bitcoin’s long-term role in the financial system.
Visser also downplayed recent concerns surrounding Strategy Inc. (NASDAQ: MSTR ) selling Bitcoin, calling the transactions “noise” that will be largely forgotten over the next year.
He noted that Bitcoin is trading above the level where Strategy made its largest sale is a constructive signal.
This suggests the market has absorbed the selling pressure.
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