Famous Stock Exchange CEO Announces Bitcoin (BTC) Expectations! He Pointed to This Level!

Leading cryptocurrency Bitcoin (BTC) could not continue the recovery it experienced in November and started December with a decline.

At this point, BTC declined rapidly from around $91,000 to $83,000 due to weak liquidity, macroeconomic concerns from Japan, and concerns about possible MSCI methodology changes.

Experts stated that the market is currently extremely sensitive and cannot handle even the slightest stress in the current environment.

Speaking to Coindeks, Farzam Ehsani, CEO of cryptocurrency exchange VALR, said that Bitcoin’s drop below $90,000 was a result of the combination of the fragile market structure observed over the weekend and poor liquidity conditions.

Noting that some investors are focusing on a different issue, Ehsani said he is awaiting MSCI’s decision on whether to remove companies whose balance sheets are largely focused on cryptocurrencies from its global indexes.

At this point, a decision is awaited regarding the removal of companies including Strategy, Marathon, Riot, Metaplanet and American Bitcoin from MSCI.

Stating that this situation will negatively affect the companies, the famous CEO said, “Any rule change automatically triggers a review of the shares of these companies, potentially leading to forced sales of these companies’ shares and triggering significant capital flows.”

Finally, Ehsani stated that Bitcoin could decline to $60,000 levels due to the ongoing weakness and said:

“If the market continues to decline, Bitcoin could test the $60,000-$65,000 range. At these levels, large institutional players, including potential rivals of Strategy, may be interested in buying large amounts of Bitcoin.”

*This is not investment advice.