Crypto research firm 10x Research posted that Bitcoin has fallen by 20% in the past month, and by 13% in Asian trading hours, indicating that many retail traders in Asia have been liquidated. Similarly, Ethereum fell by 22%, including a 16% drop in Asian trading hours.
Since Bitcoin appears to be oversold in the short term, a potential macroeconomic upside is expected next week, so a counter-trend rally is possible. Additionally, the Securities Exchange Commission may approve an Ethereum ETF, which could generate positive momentum in the short term. However, in the medium term, this is not a significant buying opportunity.
10X Research: Most of the declines in Bitcoin and Ethereum over the past month have occurred during Asian trading hours
2024-07-07 05:48:51
Crypto research company 10x research post representation bitcoin adesk3cryptocurrencydesktopCrypto News
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