As bitcoin (BTC) price extends declines, industry figures say it's time to buy: Crypto Daybook Americas
Despite Bitcoin extending its decline below $70,000 amid low volumes, industry leaders advise buying the dip, citing steady ETF inflows.Summary
Bitcoin dropped for a third consecutive day, falling below the $70,000 mark as spot trading volumes decreased and the Crypto Fear and Greed Index remained in "extreme fear." The broader crypto market cap slipped to about $2.28 trillion, though on-chain data suggests the pullback is modest compared to past cycles, with no panic selling evident. Spot bitcoin ETFs have maintained steady inflows, absorbing some selling pressure. Strategists note the market is in a price discovery phase driven by leverage due to light volumes. Despite the downturn, major industry figures remain bullish; Tom Lee advised investors to seek entry points rather than timing the bottom, and Michael Saylor reiterated his long-term conviction in Bitcoin outperforming traditional equities. Market focus now shifts to upcoming U.S. nonfarm payrolls and inflation data.
(Source：CoinDesk)