Analyst: Since Trump's election, Bitcoin has been overbought, and the stagnation of its rise is a normal phenomenon
ChainCatcher reports, the CEO of cryptocurrency investment company FRNT Financial Inc., Stephane Ouellette, said, "Since Trump's election victory, Bitcoin has been overbought, so it is normal for the upward trend to stagnate. In other words, last weekend's market can hardly be considered a correction; we have simply returned to mid-last week levels."
Data shows that since Trump's election victory, a large amount of capital has flowed into US spot ETFs directly investing in Bitcoin. The asset scale of these products has now reached 107 billion US dollars.
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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