FXPro Chief Analyst: Bitcoin has maintained a steady rise since the "pin" on Monday, and the market recovery prospects have been strengthened

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ODAILY
01-15
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Odaily reports that FXPro's chief market analyst, Alex Kuptsikevich, stated that a decline in risk appetite could exacerbate the future decline of Bitcoin, and in a negative scenario, Bitcoin could fall back to $74,000. However, it can be confirmed that since the "needle insertion" on Monday, Bitcoin has basically maintained a stable upward trend, and the return to the key $90,000 mark has further enhanced its recovery prospects. In addition, while the key CPI report on Wednesday will play an important role in the short term, overly optimistic policy expectations may disappoint the market in the coming weeks. The analysis suggests that when prices rise, the main selling comes from long-term holders taking profits, and when prices fall, the main selling comes from short-term holders selling at a loss. On-chain data shows that in the past few days, 50%-70% of the selling has been loss-selling. (Business Insider)

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