10x Research: If the price of Bitcoin climbs above $72,000, it could potentially reach a new high
10x Research stated in its latest market analysis report that if the price of Bitcoin climbs above $72,000, it could reach new highs. However, over-allocation of Ethereum (leveraged) futures may have a negative impact on Bitcoin, and Bitcoin is more favored than Ethereum (last week BTC fell by 5%, ETH fell by 9%). Comments from Gary Gensler, Chairman of the U.S. SEC, about needing time to approve Ethereum ETFS-1 seem more likely to start unwinding leveraged long positions rather than repricing Wall Street's interest rate expectations. Enthusiasm around the Ethereum ETF has significantly decreased and the ETH/BTC exchange rate continues to decline.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
WTI falls below $93.50 on profit-taking, continued US-Iran tensions in focus
ECB Rate Hike Almost Certain Tonight; Market Focuses on Future Policy Path and Lagarde's Tenure
The European Central Bank will announce its interest rate decision at 20:15 Beijing time on Thursday, and the market generally expects the bank to raise interest rates by 25 basis points.
Solana price holds above key EMAs as trading volume drops and rally pauses
U.S. equity risk premium hits lowest level since 2002, JPMorgan: Impact of rising interest rates will be more painful than in the past two decades
The buffer for risk in the US stock market is running thin. JPMorgan warns that the equity risk premium of the S&P 500 has fallen to 2.1%, its lowest level since 2002, more than 100 basis points below its historical average. The era of low premiums hides three major risks: a systemic increase in the stock market's sensitivity to interest rate shocks; global investors have overweighted equities to a twenty-year high, facing rebalancing pressure; and the strengthening positive correlation between stocks and bonds is causing risk parity strategies to continuously fail. If real interest rates rise further, this silent repricing of valuations may erupt violently.
Crypto prices
More
