Analysis: Ethereum has held its support level, Bitcoin is expected to rebound to $100,000
According to ChainCatcher, Wall Street institution BTIG analysis indicates that the recent correction in bitcoin has left its price in an oversold state, with a potential rebound to around $100,000 expected, and it may strengthen before the end of the year. BTIG also pointed out that although ethereum has dropped by 47%, it is currently holding its support level, and it may move towards $3,400.
In addition, cryptocurrency mining stocks have also shown resilience. The Barclays mining index may rise another 15%, while companies such as Cipher Mining and Terawulf have demonstrated relative strength. After a 63% decline, Strategy's stock price has shown a mean reversion opportunity, so the target price of $630 is maintained.
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.
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