Bitcoin Price Warning: Macro Factors and ETF Withdrawals Weigh on BTC

Bitcoin's recent price drop has raised concerns about further declines. Over the past few days, BTC plummeted by around $3,000 after failing to reach $65,000 on multiple occasions.

The US central bank's decision to leave interest rates unchanged on Wednesday may seem neutral, but history shows that FOMC meetings have often been followed by a Bitcoin price correction. Analysts have noted this pattern and believe it could be a sign of a further decline in the coming days.

Another macro factor affecting risk-on assets like Bitcoin is the escalating war in the Middle East. Tensions between Iran and the US have increased, with reports suggesting that Trump has ordered a fresh attack on Iranian energy assets.

The ETF behavior also suggests weakness in the market. After attracting over $200 million in net inflows for three weeks, investors pulled out $61.53 million last week, followed by $265 million on Friday to reverse Thursday's gains.

Ali Martinez has warned that the TD Sequential metric, used to determine price trend reversals, has flashed a major sell signal on the 3-day chart, indicating a potential pullback in August.