@finsignal · Post #3349 · 05.07.2024 г., 14:40
💬Several estimates of the current market from analysts: 💻 Analyst from CryptoQuant: 🟠While there is no strong panic in the market, it will begin when the orange bars appear. ➡️ In the current situation, 47K doesn't look as terrible as it did three weeks ago when we were at 70K. ➡️ We need more "shaking off", but at a slower pace. 🤵 eToro market analyst Josh Gilbert told Cointelegraph, that much of the sell-off may be related to fears related to payments to Mt creditors. Gox , as a result of which, starting this month, #BTC worth about $8 billion will enter the market. 🔵After a sudden drop to the $53,600 level, Gilbert said he expects bitcoin's price dynamics to worsen in the coming days. ❗️"The news flow is now much more bearish than bullish, and the sales activity we are seeing is clearly worrying investors, which often leads to new sales....I would not be surprised if the asset tests the $50,000 mark over the next week, but this will be a key physiological level....In the short term, there will be weakness until we get a catalyst that pushes the price up, and this may happen in the form of investors 'buying falls' or approving #ETH ETFs to improve sentiment." 🌠 Similarly, Swyftx analyst Pav Hundal told Cointelegraph that the worst in bitcoin's price dynamics may be yet to come. 🔴 "A huge wall of bitcoin is about to meet a market that has already been apathetic. ➡️ Macro conditions are still positive in the long run, but in the short term we can test 50 thousand and potentially drop below. ➡️ 52 thousand dollars is a key battleground for bears and bulls at the moment," says Hundal. ❕Despite the short-term bearish outlook, Gilbert noted that there are also reasons for investors to be optimistic on the long-term horizon. 📖"We are looking at catalysts such as the Fed's interest rate cut in September, with a potential cut in December that could raise prices....In addition, the full approval of the #Ethereum#ETF with its planned launch in July will be a big boost for the cryptocurrency market," he added. 📌 TOBTC: #Bitcoin traders remain optimistic despite the recent decline in the price of #BTC below key support levels, followed by testing of the 200-day moving average. Despite significant liquidations and a 22% pullback over the past 45 days, #analysts point to a potential recovery, highlighting signals of bottoming and a possible bullish divergence. The current correction is seen as a healthy pullback, creating conditions for a potential upward breakout of #BTC. ‼️ .Adam Back: "I remind you to zoom out. ➡️ Previous bullish periods had half a dozen -30% drawdowns. ➡️ We are currently at -26% (-27% previously). ➡️ In fact, if anything, the recent drawdowns seem less deep, but people forget about the normal bull market pattern. ➡️ Don't panic, buy the dip.