Bitcoin reached a new record of $112,052, leading investors to reassess their positions. Analysts warn of potential continuation of the rally.
Record Price Movement of Bitcoin
Bitcoin prices set a new record at $112,052 on Wednesday, prompting investors to reevaluate their positions. Analysts believe underexposed traders could be caught off guard if the rally continues.
10x Research Analysis on Future Prospects
According to Markus Thielen, head of research at 10x Research, the Bitcoin trend model flipped bullish on June 29, indicating a 60% probability of BTC continuing to rise. Audience might expect a 20% increase over the next two months, leading to a value of $130,000.
Ethereum Growth and ETF Impact
Ethereum surged over 5% on Wednesday, outperforming assets like Bitcoin and Ripple. The market saw record trading activity in the newly launched ETHA ETF on Nasdaq, with trading volume reaching 43 million shares, the highest since the fund's debut.
The rise in Bitcoin prices and ETF market activity raise expectations regarding further shifts in the cryptocurrency market, as investors continue to reassess their strategies.
