You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-investors-lose-appetite-due-to-prolonged-negativity/" data-wpel-link="internal">Crypto Investors Lose Appetite Due to Prolonged Negativity</a> 
Crypto <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> have significantly lost their risk appetite amid weeks of ongoing negativity. BTC falls to $61,100 and climbs to $63,000, but altcoins suffer repeatedly. So, what are the current predictions of <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> experts in the current environment? 
<h2 style="text-align: justify" id="bitcoin-btc">Bitcoin (BTC)</h2> 
Bitcoin fell by 3.3% on May 14 and tested $61,000 again. Bulls striving to surpass $63,500 are not succeeding. While the long-term outlook indicates an uptrend, the short-term trend is downward. Some analysts still believe $70,000 is not far off. 
Popular <a href="https://en.coin-turk.com/the-future-of-luna-and-ceek-coins-an-analysis/" data-wpel-link="internal">crypto analyst</a> Cryptotoad praises the bulls defending the $60,500 level. However, he stated that a reversal of the current downtrend requires closures above $67,000. If BTC cannot close above this level, a new test towards $57,000 might be seen. 
On the macroeconomic front, the latest PPI data came in at 0.5% monthly, exceeding expectations, which pleases the bears. Due to the nature of fear and panic, there is a continued shift towards more reliable assets in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">markets</a>. This weakens the risk markets within crypto. 
<h2 style="text-align: justify" id="bitcoin-predictions">Bitcoin Predictions</h2> 
ETF outflows continue. At the time of writing, GBTC data showed a net outflow of $50.9 million. Michael Poppe mentioned in his latest market assessment that the potential upcoming ETF rejection is also exerting pressure. Regarding the decline in altcoins, Poppe wrote: 
<blockquote> 
 “Markets are waiting for the outcome of the ETH ETF and are pricing in a rejection. Therefore, altcoins continue their downward trend and will likely do so until the news comes out next week. 
 Buy the dip and be patient.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-351455 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Poppe-Guncel-Kripto-Yorumlari.jpg" alt="" width="1200" height="638"> 
<blockquote> 
 “Bitcoin dominance has likely peaked. I believe the news surrounding the Ethereum ETF next week will be a significant positive trigger for the markets. I expect this to be a rotation for altcoins.” 
</blockquote> 
In his previous assessment, Rektcapital wrote: 
<blockquote> 
 “Bitcoin’s ‘Danger Zone’. 
 Bitcoin Pre-Halving ‘Danger Zone’ (orange) is where historical Pre-Halving Retraces begin. Historically, Bitcoin has performed Pre-Halving Retraces 14-28 days before the Halving. This cycle was no different. 
 Because Bitcoin experienced its first -18% Pre-Halving Retrace about 30 days before the Halving. History repeated itself in this respect. In fact, in 2016, Bitcoin started its Pre-Halving Retrace 28 days before the Halving, and in 2024, it was 30 days before. In this respect, 2024 closely mirrors 2016.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-investors-lose-appetite-due-to-prolonged-negativity/" data-wpel-link="internal">Crypto Investors Lose Appetite Due to Prolonged Negativity</a></h5>

Crypto Investors Lose Appetite Due to Prolonged Negativity

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