Bitwise: Investors have profited after Trump's election victory, and the recent price of BTC may remain below the psychological threshold
Bitwise's European Research Director, Andre Dragosch, stated that due to investors profiting from the significant rise in the crypto market following Trump's election victory, Bitcoin prices are likely to remain below a psychological threshold. He pointed out in his report that Bitcoin has so far failed to break through $100,000 because long-term holders have "released" a large amount of Bitcoin into the market during recent rebounds. At the same time, he described recent declines as potentially "temporary", as market sentiment remains high and supply seems somewhat tight; thus suggesting that Bitcoin is still far from overvalued.
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