Global Macro Investor believes that Bitcoin will soon be in the “madness zone”
BestChange.com
The main crypto coin found itself in the area of the aggregate break-even level of speculators, which is about $61,800. This indicator can become a support, and if this mark is exceeded, experts from CryptoQuant allowed a correction of BTC to $60,000.
Analysts noted increased pressure on the price of Bitcoin from traders. Currently, “the market lacks bullish momentum,” which would contribute to the fall in the value of the cryptocurrency below the key level of $65,800. However, pressure on the rate may be limited, CryptoQuant believes.
Investors are in no hurry to stock up on cryptocurrency; the growth in demand from major players is still quite weak. The volume of stablecoins is increasing at the slowest pace since last fall.
“As the price headed lower last week, ETF flows were negative on four days out of five. said Jag Kooner, head of derivatives at Bitfinex.
And the head of the Global Macro Investor research unit, Julien Bittel, is confident that BTC will soon enter the “madness zone” and overcome the $180,000 level.
According to the crypto enthusiast, the industry is seeing a classic picture that is associated with the Bitcoin upgrade. Bittel pointed out that a significant dump was recorded in the market in order to suppress the bullish trend among crypto industry players.
“Basically, it’s The Boring Zone before The Banana Zone. Patience, friends,” said Bittel.
Do you agree with him?