Data: Analysis shows Bitcoin is testing key support level, while Ethereum has triggered a bearish signal
ChainCatcher reports that 10x Research released a report stating that since the CPI data was released on May 13, BITCOIN ETF holders have sold more than 1 billion US dollars, market sentiment has plunged from 87% to 45%, and bond yields have continued to rise (30-year yield increased to 5.12%). Inflation has returned to focus, and cryptocurrencies are feeling the pressure.
The report points out that Bitcoin is testing the 30-day moving average, and confirmation of a break below this level would indicate deteriorating momentum. Key levels to watch: 79,125 US dollars (short-term bull-bear dividing line) and 76,922 US dollars (major support level). Ethereum has triggered a bearish signal. 10x Research states that the current pattern is “two steps forward, one step back,” but the cycle bottom has already appeared.
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.
You may also like
Adidas achieves record revenue in the third quarter, with Greater China growing by 13%, signaling channel expansion
Adidas has continued its growth momentum in the Chinese market, with channel partners beginning to show a stronger willingness to expand stores. On October 29, Adidas released...
The Bank of Japan keeps its benchmark interest rate unchanged at 1.25%, warns of increasing risks of inflation overshooting, and maintains a gradual rate hike stance.
The Bank of Japan stated that core inflation has reached a level consistent with its price target and is expected to remain around this level. Medium- and long-term inflation expectations are maintained at approximately 2%. The central bank also emphasized the need to pay special attention to the risk of inflation deviating upward and becoming a reality.
User growth hits record high in Q3, but revenue "loses steam": Citi maintains neutral rating on Pinterest (PINS.US)
Pinterest's Q3 revenue and profits fell short of expectations, with weak monetization in Europe dragging down guidance. Citi maintains a neutral rating with a target price of $27.
Crypto prices
More
