10X Research said in its latest market analysis report that if the bitcoin price climbs above $72,000, it could break through new highs.
However, over-allocation of Ethereum (leveraged) futures could lead to a negative impact on Bitcoin, which is more favored than Ethereum (BTC fell 5% last week and ETH fell 9%).
US SEC Chairperson Gary Gensler's comment that it will take time for Ethereum ETFS-1 approval seems more likely to start unwinding leveraged long positions than to re-price Wall Street's rate expectations. Enthusiasm around the Ethereum ETF has dropped significantly, and the ETH/BTC exchange rate continues to decline.
10X Research: If Bitcoin price climbs above $72,000, it could break new highs
2024-06-12 05:19:35
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