Deribit analyst: Bitcoin may have further downside

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ODAILY
08-19
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Odaily Odaily News Deribit analyst Anand Raj released a report saying that Bitcoin is still under the control of the supply zone of $61,700. This has led to a break in the demand zone on the lower time frame. In addition, although the latest 13F filings show that major asset management companies have exposure to US Bitcoin spot ETFs, bullish sentiment has not increased significantly. Therefore, the price of Bitcoin may continue to be resisted by the supply zone on the higher time frame, indicating that there may be further room for downside.

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