Why has BTC dropped to almost $60,000? 

QCP Capital analysts identify several key factors that influenced the correction:

🟦A significant increase in the BTC supply. Several large distributions have occurred: the US government (about 28,000 BTC), Mt. Gox (33,960 BTC) and payments to Genesis creditors ($1.5 billion in BTC and Ethereum).

🟦Record increase in mining difficulty. After a 10.5% jump, many miners are forced to sell their BTC.

🟦Negative macroeconomic indicators. The unemployment rate in the United States exceeded expectations — 4.3% against the projected 4.1%.

Despite this, Gemini analysts said that the crypto industry will show steady growth in the next 2 years. This will be facilitated: 

🟦Easing of monetary policy. In September, the first US rate cut in 2 years is expected.

🟦Political background. The upcoming US presidential election could be a turning point for the crypto industry.

🟦Infrastructure growth. The emergence of new financial instruments and applications —