Analysis: "Tax-saving measures decrease, preference for safe assets increases, driving upward trend."

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Analysis suggests that the cryptocurrency market is trending upward across the board, driven by a decline in tax-related trading and a strengthening preference for safe-haven assets due to geopolitical risks. According to CoinDesk, 10x Research CEO Markus Thielen stated, "Market sentiment is improving, with both BTC and ETH trending upward. Following the options expiration at the end of last month, we expect tax-related trading to decline, and trading desks at various companies will likely secure liquidity to diversify risk." BitGet Senior Analyst Ryan Lee added, "Geopolitical risks, such as the US attack on Venezuela, are driving investor demand for safe-haven assets. The cryptocurrency market's rally can also be interpreted as a signal that the cryptocurrency market is attracting funds from safe-haven markets like gold."

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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