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Bitcoin slips below $100,000 for first time since June. Here’s where it might be headed next.

1. Bitcoin prices fell below $100,000, nearing bear market conditions. 2. Current trading at $99,982, reflecting a 19.8% drop from the peak. 3. Speculative assets are under pressure, affecting momentum stocks. 4. Technical indicators suggest Bitcoin may stabilize around $94,200. 5. Market expectations indicate continued downward pressure in the short term.

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FAQ

Why Bearish?

Bitcoin's decline influences investor sentiment, potentially dragging SPY lower. Historical examples show crypto downturns can negatively impact stock indices.

How important is it?

The retreat in cryptocurrency could lead to reduced investor confidence, negatively affecting SPY performance.

Why Short Term?

Recent trends suggest quick price responses, particularly in speculative markets.

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