EMC Labs: Mid-term adjustment may have ended, BTC rebounded at $58,400
On June 25th, EMC Labs, a cryptocurrency investment research institution, posted on social media that yesterday BTC plunged to $58,400, approaching the low point of early May but did not fall below it. It retested the lower edge of the new high adjustment box and probed the uptrend line formed since October last year. In addition, the effective increase in trading volume reflects that there is a large amount of funds in the $58,000 to $60,000 range that have undertaken the selling pressure.
According to eMerge Engine, short-term traders as a whole have entered a floating loss state, and yesterday sold 28,000 BTC at a loss of hundreds of millions of dollars. At present, the market fear and greed index has fallen to 30, entering the "fear" zone. Based on comprehensive technical indicators, support levels, and market conditions, EMC Labs judges that the mid-term adjustment of BTC has probably ended, and the market will rebound at $58,400. Under extreme panic yesterday, 9% of the top 500 coins have started to rebound, and the trend of these projects should be focused on in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana chart 'cup-and-handle' positions SOL price for potential 2000% rally
Goatseus Maximus (GOAT): The Meme Coin with a Growing Cult-Like Following
What is Goatseus Maximus (GOAT)? Goatseus Maximus (GOAT) is a meme coin on Solana that is associated with Terminal of Truths (ToT), an AI bot that not only supports the coin but actively promotes it. ToT describes Goatseus Maximus as a “trojan horse” that is designed to penetrate every corner of th
Bitcoin ETF inflows, crypto equity markets and retail trading sentiment are 'screaming risk-on,' Bernstein says
Bitcoin attempting another breakout above $70,000, rising odds that Donald Trump will win the White House and pro-crypto policies from the Harris campaign are helping to fuel bullish sentiment, according to Bernstein.Bitcoin ETF inflows, crypto equity markets and memecoins boosting retail participation add to a market that is “screaming risk-on,” the analysts said.