An analysis of OI in bitcoin futures suggests that the liquidation of long positions is in its final phase. According to JPMorgan analysts, for this reason, the risks of a further decline in quotations look insignificant, writes CoinDesk.
The correction in August, “which neutralized the rally after the SEC decision against Ripple,” experts associated with “a worsening conjuncture of risky assets in general.”
The latter was driven by “a ‘bulge’ in tech stocks, rising real yields on government bonds, and concerns about the growth of the Chinese economy,” they added.
The news that Elon Musk’s SpaceX might be getting rid of bitcoin was “an additional catalyst.”
Recall that Pantera Capital analysts allowed the price of digital gold to rise to $35,000 on the eve of the halving and to $147,800 after this event in the future.
Earlier, trader and analyst Michael van de Poppe predicted digital gold quotes to rise to $50,000 ahead of miner reward halving.
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2023-08-25 15:15:44
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