The price of Bitcoin rose to about $ 10350 before a slight drop, and at the time of publication is about $ 10,225, which also indicates that 10 thousand may still be the support level. However, the long position is quite weak. Bitcoin bulls and bears are still waiting for new incentives to take the next step
Bulls or bears: who will take control over BTC?
After the value of Bitcoin fell below $ 10 thousand, the downward momentum decreased and recovered slightly. Whether the crypto-market at the end of the game to cash money? While all asset prices may be lifted due to new liquidity in the market, which may also raise the price benchmark for the cue Ball, the profit margin is still significant, especially for those who bought it in March.
Another factor that has allowed the cryptocurrency market to grow is the growing popularity of decentralized exchanges (DEX). Some DeFi tokens have even grown tenfold, while the cost of managing them remains surprisingly low. Another typical example was the Sushi token. Recently, The price of the Sushiswap token (SUSHI) dropped from $ 12 to about $ 1.20 within a week. The fall in the price of Ethereum was influenced by DeFi projects, which, in turn, brought down BTC.
Given that the profit margin is still high, there may be a second trend when investors take advantage of this revived opportunity to cash in their profits, or even make a profit by selling a cue Ball.