Analysis: BTC has "strong support" in the $70,000-$75,000 range, which may lay the foundation for the next round of increases
LMAX Group crypto strategist Joel Kruger pointed out that due to global trade tensions and the hawkish outlook of the Federal Reserve, risk appetite in traditional markets has cooled. He stated: "We believe that the correlation between Bitcoin and traditional risk assets may be misleading, given that Bitcoin's attributes are more consistent with those of a store of value, it can easily generate substantial demand as an attractive diversified investment asset." Analysts said that BTC has "strong support" in the $70,000-75,000 area. This level could become an "attractive higher low," laying the foundation for a significant increase in the next round and pushing Bitcoin to break through $110,000 to set a new historical high.
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