Bitcoin's Next Test Is $80,000 as Jackson Hole Meeting Looms
Bitcoin's Next Test Is $80,000 as Jackson Hole Meeting Looms
He expects the market to hold its range, with $80,000 "an important upper boundary." Whales had stopped selling and begun to accumulate again, he wrote, though not yet at a scale that would imply "an immediate and sustained breakout," which he did not expect them to reach over the next 12 months.
Tim Sun, senior researcher at HashKey, noted the change in what is driving the price rather than the level itself. A thoroughly deleveraged market, a weaker dollar, concentrated short liquidations, and returning ETF flows together suggest the market "seems to be forming a consensus around the bottom range," he said...