SignalPlus: Patience may still be required before the price hits a new high

The latest research report from SignalPlus points out that in terms of cryptocurrency, despite SPX consistently hitting new highs, the performance of cryptocurrencies is just the opposite, with prices still struggling to break through within the range. The U.S. stock market is making its utmost effort to push up cryptocurrency prices, but we still believe that the road to price increases will be long before a more exciting narrative emerges. While prices are stuck in a range for a long time, traders still prefer to sell volatility and generate returns.

With China's stock market rebounding from disappointment over the weekend, BTC's price indeed jumped above $64k this morning. Risk sentiment may continue to maintain a "buy everything" mode until circumstances change. As America enters into the final weeks of presidential campaign activities, last Friday's strong inflow of BTC ETF funds might be a positive signal; however patience may still be required before setting new highs in price.