Analyst: Market Participants’ Buying Activity Remains Supportive, Bitcoin Still Has Room to Rise
According to a report by Jinse Finance, Cryptoquant analyst Axel Adler Jr has released a market analysis stating that, based on today’s Bitcoin price of $117,000, the market is currently in a growth range between the “median investor price” ($92,000) and the “market sentiment warning level” ($139,000). This indicates that buying activity among market participants remains supported: as long as the price stays above their psychological comfort zone, they are willing to hold or increase their positions. At the same time, the market has not yet entered an overly optimistic phase, which means Bitcoin still has room to rise without triggering significant overheating risks, with a potential target of $139,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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