BRN analyst: BTC’s recent “sell on rallies” trend may be due to concerns about the increased risk of a U.S. recession

Bitcoin (BTC) fell below $57,000 on Thursday, possibly due to lingering concerns about the strength of the U.S. economy. Valentin Fournier, an analyst at digital asset consulting firm BRN, said that the recent tendency to sell on rallies may be due to concerns about the increasing risk of a U.S. recession, and market sentiment is driving a reduction in exposure to risky assets. He said: "Economic reports are increasingly showing that the risk of a recession cannot be ignored. The ISM manufacturing index was 0.5% lower than expected, and job vacancies were 7.7 million, compared with an expected 8.1 million. Given the current economic uncertainty and the possibility of a decline in liquidity, we recommend reducing investment in BTC and waiting for a better entry point before increasing investment." (Coindesk)