Bitcoin and Ethereum are facing difficulties in breaking through technical resistances, raising doubts about the sustainability of their recovery.
Market Challenges
According to analysis firm 10X Research, the current cryptocurrency market is experiencing a number of challenges, including compressed volatility, seasonal weakness, and a lack of macroeconomic catalysts. This situation casts doubt on the sustainability of recovery for Bitcoin and Ethereum.
Ethereum's Rise and Its Flaws
10X Research also commented on the recent rise of Ethereum, stating that it is driven by expectations rather than solid fundamentals. "Ethereum is seeing an increase in the number of active wallet addresses and an upward price trend, but these movements are currently driven by psychological factors based on narratives like expectations rather than solid fundamentals."
Direction of Bitcoin and Ethereum Movement
Analysts note that recent actions by US President Donald Trump regarding accessibility to cryptocurrencies in 401(k) accounts and an interest boost in gold may be positive for the market, but the traders' response has been relatively muted. "As both Bitcoin and Ethereum reach critical limits, momentum could strengthen or decline sharply depending on future movements."
Bitcoin and Ethereum are in an uncertain situation where their future movements may depend on multiple factors and external conditions.
