As the head of the research department of the Options of Options Derive.xyz, Sean Dawson, noted, the beginning of the week turned out to be unsuccessful for the main crypto assets. The daily volatility of bitcoin increased from 15% to 38%, and the broadcast from 41% to 70%. The main reason for its growth was the publication of the price index of American manufacturers, which turned out to be higher than forecasts (0.9% instead of the estimated 0.2%).
Now traders and investors have begun hedging risks before the release of key data: a report on US GDP on August 28 and a labor market report in early September. Dawson suggested that in a few weeks, Bitcoin could fall below the key level of support of $ 100,000, and the broadcast will fall to $ 4000.
The number of active addresses fell, while the volume of cryptotrazacia increased. This means that the market is driven by short -term speculators that are easily panic, and not sustainable demand, the expert believes.
In turn, the head of the BRN research department Timothy Misir said that the daily volume of liquidation in the market may exceed $ 1 billion. According to him, if Bitcoin does not hold the level of $ 100,800, this will cause a violation of the current bull trend and lead to a new wave of sales.
Earlier, the analysts of the Cryptoquant onchain platforms said that investors who bought bitcoins for the last month have begun massive cryptocurrency sale and record losses.
Source: Bits
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