Deribit analyst Anand Raj released a report saying that the Federal Reserve may cut interest rates in September, which was hinted at by the meeting notes of the July meeting. At the same time, the inflow of funds into the US Bitcoin ETF increased, while the key $61,800 supply area may soon be breached after multiple tests.
From a technical perspective, the key $61,800 supply area has been tested several times, and no significant retracements or declines have been observed following these tests. As this level is repeatedly challenged, the bitcoin price may soon attempt to break through this level. Therefore, it can be expected that the bitcoin price will continue to rise as institutional inflows increase, thus restoring a bullish market environment.
Therefore, it can be expected that as institutional inflows increase, the bitcoin price will continue to rise, thus restoring a bullish market environment.
Deribit Analyst: Bitcoin May Be About to Break Through $61,800 Supply Zone After Multiple Tests
2024-08-22 11:06:46
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Optimism: 50 million OP awarded to Superchain creators and buildersNext article：
1亿枚USDT从Tether Treasury转移至Bitfinex
