How Will Critical Data Coming from the #USA  This Week Affect #Bitcoin ? Famous Analyst Announced His Short and Medium Term Expectations!

Bitcoin, the dominant cryptocurrency, recently plummeted below $54,000 after breaching the critical $60,000 support level. Following this drop, #BTC  managed to recover above $57,000 amidst market reactions. Markus Thielen, founder of 10x Research, accurately foresaw Bitcoin's decline to $55,000 and has now unveiled his latest analysis.

Thielen affirmed that Bitcoin's anticipated decline to $55,000 has materialized, suggesting a potential short-term rebound due to overselling. He speculated that forthcoming macroeconomic events might bolster this rally.

Additionally, Thielen speculated that the Securities and Exchange Commission (SEC) could soon greenlight the Ethereum ETF, potentially igniting positive market momentum in the near future. However, he cautioned against viewing these developments as significant buying opportunities over the medium term.

Highlighting BTC's recent downturn, Thielen noted a 20% decrease in June, with 13% occurring during Asian trading hours. Similarly, Ethereum (ETH) experienced a 22% drop, with 16% of the decline happening during Asian trading.

Thielen pointed out that these statistics indicate widespread liquidations among retail traders in Asia, underscoring the market risks faced by retail investors in the region during such downturns.
#USA #Bitcoin