Deribit Analyst: Bitcoin may have further downside potential
Bitget2024/08/19 11:37
Deribit analyst Anand Raj released a report stating that Bitcoin is still under the control of the $61,700 supply zone. This has led to a breach in the demand zone at lower time frames. Moreover, despite recent 13F filings showing major asset management companies have exposure to US Bitcoin spot ETFs, bullish sentiment has not significantly increased. Therefore, Bitcoin's price may continue to face resistance from the supply zone at higher time frames, indicating there might be further downside potential.
1
0
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.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$90,625.42
-1.02%
Ethereum
ETH
$2,996.07
-1.43%
Tether USDt
USDT
$1
+0.05%
XRP
XRP
$2.21
+0.60%
BNB
BNB
$877.93
-1.53%
Solana
SOL
$137.15
-2.90%
USDC
USDC
$1
+0.02%
TRON
TRX
$0.2812
+0.29%
Dogecoin
DOGE
$0.1496
-0.70%
Cardano
ADA
$0.4184
-1.77%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now