 ▲ Bitcoin (BTC) |
Cryptocurrency market analysis company 10X Research said in a report released on the 14th (local time) that "Bitcoin (BTC) mining stocks still have room to rise further, but Bitcoin must be supported by strong fundamentals. However, recently, BTC Rather, it shows a weak trend, so we need to be careful,” he diagnosed.
The report added, "Although major mining stocks such as Bitfarms and Bit Deer have shown significant upward trends over the past two weeks, it should be remembered that the BTC price continues to show weakness, failing to break through the $71,946 resistance line."
Meanwhile, CoinDesk, citing multiple traders, predicted that “Bitcoin could be adjusted up to $60,000 due to miners’ selling activities.”
In relation to this, Alex Kuptsikevich, senior market analyst at foreign exchange trading company FxPro, said, “The preference for risky assets is decreasing due to the strength of the dollar. “Bitcoin is currently continuously testing the 50-day moving average of $65,000, but if it does not rebound soon, it may eventually not be able to hold on to the support line and fall to $60,000.”
CryptoQuant said, “Based on on-chain data, the number of BTC transfers from mining pools to exchanges has recently increased, reaching the highest level in two months. “Sales volume through over-the-counter exchanges is also the largest since the end of March,” he explained.
As of 5:35 p.m. on the 16th (Korean time), the price of BTC, the No. 1 cryptocurrency by market cap based on CoinMarketCap, is trading at $66,249, up 0.13% from 24 hours ago.
