Golden Finance reported that Joel Kruger, encryption strategist at LMAX Group, pointed out that due to the global trade tensions and the hawkish outlook of the Federal Reserve, the risk appetite of traditional markets has cooled down. He stated: "We believe that the correlation between BTC and traditional risk assets may be misleading, given that BTC's characteristics are more in line with the properties of value storage, making it easily generate significant demand as an attractive investment for portfolio diversification."
Analysts say that BTC has 'strong support' in the $70,000-$75,000 range, which could be a 'higher low point of attraction' for the next significant rise, pushing BTC past $110,000 and setting a new all-time high.
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LMAX Group analyst: BTC has 'strong support' in the $70,000-$75,000 range, which may lay the foundation for the next pump
Golden Finance reported that Joel Kruger, encryption strategist at LMAX Group, pointed out that due to the global trade tensions and the hawkish outlook of the Federal Reserve, the risk appetite of traditional markets has cooled down. He stated: "We believe that the correlation between BTC and traditional risk assets may be misleading, given that BTC's characteristics are more in line with the properties of value storage, making it easily generate significant demand as an attractive investment for portfolio diversification." Analysts say that BTC has 'strong support' in the $70,000-$75,000 range, which could be a 'higher low point of attraction' for the next significant rise, pushing BTC past $110,000 and setting a new all-time high.