US Market Influences Bitcoin Price: Long-Term Outlook Remains Positive
Ki Young Ju, CEO of CryptoQuant, has observed a slowdown in Bitcoin’s market influenced by U.S. sentiment. Despite neutral on-chain signals, the bullish trend remains, though price momentum is sluggish. Fundamental strengths and potential support levels are essential for Bitcoin’s future direction.
Recent observations by Ki Young Ju, CEO of CryptoQuant, indicate a deceleration in the Bitcoin market, primarily influenced by shifting sentiment in the United States. In a recent post on X, Ju noted that while key on-chain metrics appear neutral, the bullish cycle for Bitcoin remains intact. However, without a change in U.S. market conditions, the momentum behind Bitcoin’s price may be slow to develop.
In conclusion, while current U.S. market conditions suggest a sluggish Bitcoin price, the long-term outlook remains promising owing to solid fundamentals. Key support levels and potential macroeconomic changes are essential for restoring investor confidence. The market dynamics, particularly whale activities and institutional interest, will play a crucial role in determining Bitcoin’s future trajectory.
Original Source: thecryptobasic.com
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