PANews reported on June 23 that according to Matrixport's analysis, despite Bitcoin's attempt to rebound, seasonal patterns suggest a low probability of sustained breakthrough. To maintain technical validity, Bitcoin needs to stay above $105,000. However, greater concerns lie with Ethereum, where leveraged traders have pushed up prices without fundamental support. Currently, Ethereum's price is primarily driven by futures positions, making it vulnerable to further decline. In recent days, Ethereum has experienced significant drops, with leverage levels remaining high, which increases the potential risk of price pressure.
Analysis: Ethereum's downtrend is not over, leverage levels are still high
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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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