Bitcoin (BTC) is facing growing downside risk, with institutional analysts warning that the primary cryptocurrency could see a sharp correction toward the $56,000 level. According to recent research from Galaxy Digital, the market currently lacks the strong fundamental catalysts needed to sustain upward momentum following the massive run-up earlier this year. Galaxy noted that the enthusiasm surrounding spot Bitcoin ETFs has softened, with net inflows cooling significantly. Furthermore, macroeconomic uncertainty, particularly concerning interest rate paths and persistent inflation fears, is suppressing risk appetite among institutional players. BTC has struggled to hold psychological support above $60,000. If this level breaks decisively under selling pressure, the report suggests that the next major support zone lies around $56,000, an area of critical accumulation observed prior to the recent all-time high breach. Analysts advise investors to exercise caution, noting that without renewed significant institutional demand or a major shift in the macro environment, price action is likely to remain choppy and biased downward in the near term.
Source: Bitcoin may fall to $56K as reasons for gains ‘remain hard to find’: Galaxy
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