Daily Cryptocurrency Market Analysis: BTC Price Sw

Follow Lao Deng and don’t get lost in daily information.Daily market analysis: In the cryptocurrency market, BTC price fell from an all-time high of $69,000 to $59,000 in a matter of minutes. Rumor has it that this was due to a long-dormant wallet starting to move its holdings to Coinbase and taking profits at a mining cost of $0.28. The sharp price swings triggered a massive liquidation of long futures positions. However, heavy ETF buying provided support for prices, with BTC settling around $66,000 and ETH settling around $3,800. As can be seen from yesterday’s rapid recovery in BTC prices, the market is still in buy-on-the-dip mode. However, given BTC’s outperformance relative to ETH and other altcoins, it’s possible that BTC will lag from here on out. If you compare BTC to the 3x leveraged Nasdaq index, BTC looks relatively overextended. In the short term, BTC is likely to enter a shock consolidation mode and perform relatively poorly.

热点：BTC etf ETF