Nothing's spooking $BTC today, but how long can the stable times last?
“Bitcoin remains stable, altcoins losing value, $BTC dominance bouncing upwards and currently rallying,” Michaël van de Poppe, founder and CEO of trading firm Eight,Van de Poppe noted that market participants were still “scared” due to upcoming macro data and legal events tied to the FTX scandal., which measured 27/100 on the day — still above its lowes “extreme fear” zone.On the topic of near-term market action, there were fresh bearish warnings for both crypto and risk assets.
“Don't forget that the stock market has crashed very hard every time in history AFTER the FED's Pivot,” he“Possible that the market will make a rally, because of the expectations of a pivot. After the official announcement: Sell the news.”Analyst Toni Ghinea was similarly wary,followers that the BTC/USD bottom would be between $11,000 and $14,000 and come in Q1 next year.
“Bottom is 11-14k. Capitulation is in Q1 2023,” he wrote, also including a bounce target of up to $30,000.The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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