Bitcoin's Big Slide: What's Next for the Crypto King?

Bitcoin's value has been on a rollercoaster, dropping to its lowest point since May. It's now below $95, 000, and the week isn't looking good with a 9% loss. Other big names in crypto like Ethereum and Solana aren't faring much better, with losses of 11% and 15% respectively. XRP is holding up better, only dipping 1%, maybe because of its new spot ETF. Crypto-related stocks are also feeling the heat. MicroStrategy, which holds a lot of Bitcoin, is down 4%, while other mining companies are seeing losses between 4% and 7%. On the bright side, Hut 8 is up 6% after some good earnings news, and Robinhood and Riot Platforms are also seeing small gains. The big question is why is this happening? Well, it's mostly because there's no clear information about the U. S. economy and what the Federal Reserve is planning to do. The government shutdown didn't help, as it delayed important economic data. Even though the government is back to work, the funding is only temporary, so investors are still worried. Some experts think this drop is just a necessary correction after a long period of sideways trading. They believe that once this phase is over, Bitcoin could strengthen in the long run. The main factor driving Bitcoin's value is still the overall economic situation. If the Federal Reserve eases up on interest rates or injects more liquidity, it could help boost Bitcoin's value. Looking at the technical side, Bitcoin might have more room to fall. If it breaks below $100, 000, the next support level is around $84, 000. So, it's a waiting game to see where Bitcoin will land next.