10x Research: Potential short squeeze pushes up Bitcoin price in the near term, may face risks in September
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Odaily Odaily News 10x Research said in its latest analysis that the recent rebound in the Bitcoin market is strategic, and $65,000 is crucial to book profits. As expected, the FOMC meeting minutes and Powell's dovish stance drove the rebound in Bitcoin, and the potential short squeeze pushed up the price of Bitcoin. However, despite its predicted increase of 10%, these gains have now been fully waived, and major risks are beginning to emerge as September approaches.
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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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