Crypto investors may not be -underexposed to Bitcoin, especially as the option of the option is growing greater in possession, according to 10x research leader Markus Thielen.
“We remain constructive, especially since many merchants appear to have not been recorded following the expiry of the option last month, which led to significant roll-off exposure,” Thielen told Cointelegraph on Wednesday, explaining that there was a chance that Bitcoin (Btc) Can reach $ 133,000 in September.
“Now entrepreneurs are mostly buying calls, who have signed that they may not be -underexposed to more upside down,” Thielen Says in a market report on the same day.
Bitcoin Bullish’s trend model turns
Bitcoin clocks a new all-time high On Wednesday, up to $ 112,000.
According to Thielen, the Bitcoin trend model of 10x research flipped bullish on June 29, and said that recent breakouts could bring momentum until September.
“Our trade signals suggest that this short -term breakout carries a 60% possibility of further reversal over the next two months, with historical analogs pointing to those who have around the +20%,” he said.
With the current Bitcoin price of $ 111,000, a 20% move will have a higher BTC placed near $ 133,000, According to In CoinMarketCap data.
“This indicates Bitcoin can move to a higher range of trading,” he said.
Many catalysts can push Bitcoin further. Thielen pointed out the upcoming US Consumer Printing Printing on July 15, which participants in the market are expecting “Benign.”
He also pointed to a “bullish policy backdrop” this coming Sunday of the US Crypto.
The next bitcoin transfer may “specify this quarter”
Although Q3 is usually the weakest quarter of Bitcoin, which is only average of 5.84% return since 2013, According to In coinglass, Thielen believes this time may be different.
“Entrepreneurs at the sideway risk are losing the move that can define this quarter,” Thielen said.
“Bitcoin is destroying, which has been filed by the relentless ETF demand and a series of policy catalysts at reach,” Thielen added. The US Bitcoin ETF-based area posted $ 215.7 million outflows on Wednesday, According to to the data away.
Thielen was not alone in her thinking about Bitcoin. Crypto Trader Jelle Says In an X post on Wednesday, “Bitcoin is leaving.”
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“It’s a bit time to go before this candle closes. I want to see it near the price discovery to remove all bear arguments,” Jelle said.
Crypto analyst rect capital Says“The bitcoin dowrend is over.”
Meanwhile, crypto analyst Matthew Hyland warned That’s the “Max Pain (is) coming” for those sitting on the sides, guarding a prediction he made in May that investors ignored a buy-the-dip chance similar to how they did five years ago.
“The market has given it all 2020 again, but it is a lot fumbled at the very end,” Hyland said.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
