According to ChainCatcher, crypto research firm 10x Research said that Bitcoin has fallen 20% in the past month, including a 13% drop during the Asian trading session, indicating that many retail traders in Asia have been liquidated. At the same time, Ethereum fell 22%, including a 16% drop during the Asian trading session.
As Bitcoin appears to be oversold in the short term, a counter-trend rally is possible in anticipation of potential macroeconomic positives next week. In addition, the SEC’s potential approval of an Ethereum ETF could spark positive momentum in the short term. However, this is not a major buying opportunity in the medium term.
