Regardless of the long-term bull market sentiment round Bitcoin (BTC), it has seen renewed promoting this week. Bitget’s CEO Gracy Chen defined a lot of situations which will result in BTC worth crash to $50,000.
Bitget CEO Explains Present Bitcoin Market Situation
On the time of writing on Thursday, Bitcoin traded at $62,645.23 with a 6.69% drop within the final 24 hours. The promoting strain got here after an enormous downtrend the place BTC worth fell beneath necessary ranges of technical help.
Because of this, in a word on X, Chen said that certainly one of his greatest fears is the continued downtrend in spot Bitcoin ETF flows. She mentioned,She famous that “Spot ETFs have seen internet outflows for 13 straight days, totaling $4.37 billion—the longest steady outflow streak in historical past.”
The Bitget CEO added that persistent fund withdrawals are placing stress available on the market at a time when investor sentiment is already fragile. Citigroup analysts additionally shared an an identical evaluate of the market.
Bitcoin’s technical failure was one more reason spotlighted by Chen. “BTC has damaged beneath the month-to-month EMA50 help at $65K,” she wrote. Thus, Chen hinted at an additional downturn because the bearish sentiment gained momentum. “The following key help is on the SMA50’s $59K, and beneath that, the $52K–$48K vary.”
In the meantime, Mt. Gox’s BTC actions are additionally weighing available on the market.
Macro Elements In Play
Nevertheless, the general capital market situations are additionally impacting Bitcoin’s efficiency, Chen added. BTC has been in hassle, although, whereas main U.S. fairness indices have been going up, she mentioned. “The extra elementary situation is that BTC is falling, whereas on the opposite facet, the S&P and Nasdaq are hitting new highs,” she added.
Whereas crypto property have been a prime focus for institutional buyers, they’re additionally trying to spend money on AI-related alternatives, says Chen. Beforehand, Ripple affiliate SBI Holdings Chairman Yoshitaka Kitao additionally echoed this narrative.
Furthermore, Technique’s Michael Saylor additionally helps this concept. On X, he wrote, “Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months. Bitcoin ETFs have seen ~$4B of outflows since Might 14, pressuring $BTC. This can be a capital rotation, not a Bitcoin impairment. Volatility creates alternative.”
那个说过卖肾不卖币的男人终于都卖币了
现货ETF连续13天净流出，累计$43.7亿，是历史最长连续流出纪录
BTC跌穿了月线EMA50支撑的$65K我不是在看空。我只是觉得，该说的风险不能装没看见。… https://t.co/Sj0Y8zanys pic.twitter.com/2f0QxTKJYM
— Gracy Chen @Bitget (@GracyBitget) June 4, 2026
In the meantime, Chen additionally referenced macroeconomic and market-specific elements. These embrace inflation worries and the opportunity of Fed price cuts being delayed. Additional, she referenced upcoming public listings from firms like OpenAI, Anthropic, and SpaceX that might draw investor cash.
Whereas outlining bearish dangers, Chen said she remains to be bullish on Bitcoin in the long term. Nevertheless, she warned that buyers should be aware of market pressures. She added that “being bullish doesn’t imply ignoring dangers.”
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