21Shares strategist: Bitcoin's trend may be difficult to predict
2025-08-06 14:39:52
Given the randomness of short-term movements, Bitcoin's performance is difficult to predict, according to Matt Mena, cryptocurrency strategist at 21Shares. Cryptocurrencies react to major catalysts such as macroeconomic data, central bank decisions, and regulatory developments, he said. However, Bitcoin also has "very technical characteristics", so chart levels play a significant role in its movement compared to traditional assets. Another factor to consider is that it trades 24/7 on a globally dispersed array of exchanges, which vary in their liquidity. This, combined with increasing algorithmic involvement and on-chain data signals, means that price movements can sometimes be driven by technology, positions, or automated strategies, rather than fundamental news.
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