My people, e don happen again o! Bitcoin don waka comot, fall like say na joke. Just last week, dem say e drop almost 20%, and now na $70,500 be di new level wey e dey operate from.
As matter dey be, dis forex market dey hot like pepper soup. Bitcoin don hit lowest level since November 2024, and everywhere just dey shake as investors dey withdraw their moni from US spot bitcoin ETFs. This one na serious palaver, full ground o!
For those wey dey follow di matter, just this Thursday morning, we see say Bitcoin don drop below $70,000 for Bitstamp when di action dey happen during Asian hours. Even Coinbase no gree carry last, suggestin say $70,002 na wetin dem see for dia platform. E be like say Bitcoin dey run like chicken wey don hear say hawk dey come.
Di whole price wahala fit dey work hand-in-hand with news from di US government wey show no sign to bail out cryptocurrency. Omo, e be like say wetin Binomo fish do for di crypto world don meet him match!
Na so investors dey pull dem capital for spot bitcoin ETFs, especially BlackRock wey dey lead dem with $373 million don vanish just like that. Next come Ethereum, wey also dey face jebi with net outflows of $79.48 million, while XRP dey shine small with some inflows of $4.83 million. Wetin I go talk? E get as di matter dey sweet and bitter simultaneously.
Wenny Cai, COO for Synfutures, don even talk say di decline wey Bitcoin dey see reflect a broader shift from investors. E say dis year dey give us vibe of di past when market dey fragile and investors dey hold dem breath like say dem wan dance inside wahala.
And as people dey talk with serious face, na di AI-led investment boom wey dey die down na im dey make people dey pull di investment back for land wey dey safe, like Gold. E no just dey sweet to hear say Bitcoin don dey rated alongside di dollar as liquidity dey tighten.
Dis sentiment dey affect di crypto market sharply. As Bitcoin don pass di $70,000 line, it dey look like say na watch dem dey watch di whole thing unfold. Wetin be your take on this one, abi you feel say e fit change? We don see wetin happen as price dey shift from bullish narrative to balance-sheet mechanics.
Despite all dis wahala, some people still dey believe say no matter di ups and downs, capital no dey run dry for blockchain infrastructure. E carry di hope say di real-world asset tokenisation dey expand, which dey reflect demand for yield and transparency more than just price appreciation. No be all hope don finish, wey we fit still see real-world applications wey make sense.
But, you know say as we dey run di story, some economists don open dem mouth dey talk anyhow. Nouriel Roubini don come out say Bitcoin dey act like one niya – e no fit be real hedge against macro and geopolitical risks. Dem fit dey drop pepper for ground, but wetin e talk get as e sweet for inside and outside. Omo, e even suggest say di future of money no go change like dem show us for crypto movie, e go dey gradual!
So, na wetin we go dey look out for as di situation dey unfold? One thing we fit be sure of na say, no matter di ups and downs, crypto na di asset wey go always dey give us gist for corner beer joint. As di market dey swing from highs to lows, make we no forget to sip our drinks while we dey watch di action!
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