Due to unexpected highs and lows, this week is very important for the cryptocurrency market. The leading cryptocurrency fluctuated at different time points, changing market sentiment
Due to unexpected highs and lows, this week is very important for the cryptocurrency market. The leading cryptocurrency fluctuated at different time points, changing market sentiment.
The entire Bitcoin market is currently flashing red, and analyst and trader Michael Van DePoppe has launched a counterfeit currency solution while keeping in mind the dominant position of Bitcoin.
The analyst said that the market has been adjusting and some results have performed very well. Poppe stated that Ethereum has been performing well since the Shanghai update, but added that it has quickly entered the correction zone.
When it comes to Chainlink, Poppe said it has been doing well because of the hype surrounding CCIP, but he added that it still hasn't broken through the high mark. He said that Bitcoin's dominant position has been consolidating and acting within a certain range. It has been testing resistance, and once it breaks through the 61 level, Bitcoin will take off.
Bitcoin will definitely take off from there, but we have upgraded to Shanghai and we have had a significant rebound on Ethereum, so we must ensure that there is a situation where we will actually fall with Bitcoin's dominance, not rise
He also talked about the total market value and stated that it still faces key obstacles. It needs to break through $1.25 trillion, and then it will continue this relief rebound.
After a significant drop in prices on Thursday, Bitcoin fell and lost momentum of over $30000. Before giving up most of the profits, the price dropped to $29100. The value of Bitcoin fell by 10.40% last week.
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