Opinion: If Strategy continues to hold its 650,000 bitcoins, a significant correction in BTC is unlikely in this cycle.
Jinse Finance reported, citing market sources: CryptoQuant CEO Ki Young Ju stated that if Strategy ($MSTR) continues to hold its 650,000 bitcoins, bitcoin is unlikely to experience a significant correction in this cycle, and any downside may be limited to sideways consolidation.
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
AI trend continues to drive momentum, global tech stocks lead gains, bond markets strengthen collectively, and oil prices may experience the longest decline in a year.
The Seoul Composite Index in South Korea rose 0.49%, paring some of its early morning gains. Brent crude fell 1.2% to around $94 per barrel, facing its longest losing streak in nearly a year. The decline in oil prices has eased market concerns over inflation, which had previously been driven up by yields reaching multi-decade highs, putting pressure on the bond market. Both Australian and New Zealand 10-year government bond yields dropped by at least 3 basis points, while US Treasury futures climbed in tandem.
Crypto prices
More
