Bitcoin (BTC) fluctuated around $78,000 on Saturday, losing much of its May growth momentum. According to TradingView, the price fell to $77,614, marking its lowest point since May 1. This is reported by Cointelegraph.com reports .
Market pressure is intensifying amid concerns over U.S. government bonds and geopolitical tensions in the Middle East. Iran's attempt to control the transit system through the Strait of Hormuz is raising concerns about the global oil supply chain.
Analysts at Mosaic Asset Company note that the current macroeconomic environment is unfavorable for risky assets. They believe the wave of inflation is reminiscent of the situation in mid-2022, prompting investors to exercise caution.
WTI oil prices ended the week above $100 per barrel. Among Bitcoin traders, there are mixed opinions regarding the price remaining below $80,000 and the pressure from bears.
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