Cryptocurrency Market Poised for Bearish Trend, Expert Predicts

A recent analysis by a prominent trading expert suggests that the cryptocurrency market is poised to enter a bearish trend after the 15th. The expert's insights point to several key factors contributing to this expected downturn.

Firstly, the price of major cryptocurrencies has been exerting pressure on the 200-day moving average in the range of 82000-84000. This combined with the ETF capital cost zone creating strong resistance is a clear indication that the market is facing significant headwinds.

Institutional selling has also been a significant factor, with continuous outflows of ETF capital reaching new highs over the past half month. Additionally, on-chain whales and miners are transferring large amounts of chips to exchanges, increasing selling pressure in the market.

The expert notes that the market has consecutively broken key technical support at 78600, entering a bottom-seeking phase. Changes in policy also bring uncertainty, further disrupting market sentiment.