Major cryptocurrencies Bitcoin and altcoin suffered a sharp decline due to continued uncertainty of investors in macroeconomic terms.
The decline prompted investors to surge, but they began to recover when investors returned to the market.
Investors are waiting for next week’s CPI, the leading US inflation indicator, to make a full decision.
Presto Research analyst Min Jung assessed the decline, saying the decline was due to disappointment of US non-farm pay data.
Jung also said that it could have contributed to Bitcoin and other cryptocurrencies profit-earning, especially after weeks of profit, coupled with weaker than expected data, coupled with declining US stock markets.
BTSE COO Jeff Mei said that after the decline in macro data from the US last week, retail and institutional investors could “buy DIPs” immediately.
Talked to Brock, May said the decline was not long-term.
“Whenever there is a dip, buyers will hurry and take advantage of the opportunity, so the dip doesn’t last long…
It is clear that those who do this are long-term investors and institutions.
As Crypto Treasury companies acquire assets and Tradfi institutions launch partnerships with crypto services, it is expected that Bitcoin will continue to increase monthly closings. ”
Finally, Kronos Research Cio Vincent Liu said that while there is uncertainty in the market, investors are now cautiously optimistic.
“Investors are relying on risk by helping them buy whales and hope for ultimate interest rate cuts,” the analyst said, adding that investors are currently focusing on CPI.
*This is not investment advice.
