Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»Analysts believe that Bitcoin and Ethereum could fall further in the short term.
ETHEREUM NEWS

Analysts believe that Bitcoin and Ethereum could fall further in the short term.

By Crypto FlexsAugust 12, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Analysts believe that Bitcoin and Ethereum could fall further in the short term.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) and Ethereum (ETH) have recovered 21% and 18% respectively from their lows following the crash on August 4.

But Aurelie Barthere, senior research analyst at Nansen, told CryptoSlate that the worst may not be over yet. She explained:

“BTC (and ETH) have hit a local bottom, but the daily trend still looks negative. The 50-day moving average is trying to break below the 200-day moving average.”

Barthere added that this creates a technical pattern known as a “death cross,” which typically precedes a price decline.

Therefore, to avoid a bearish signal on the chart, analyst Nansen explains that BTC needs to stay above the $62,000 price level. However, the current all-time highs between $70,000 and $71,000 are still a strong resistance limit.

Barter added:

“Psychologically, some traders were hurt by the sell-offs in March and July and this could be a very difficult threshold to cross.”

Meanwhile, ETH shows a strong correlation with BTC, especially during sell-off periods. The analyst points out that ETH has already seen a death cross on the daily chart and should remain above $2,700, a significant resistance that was tested in January and this week.

Cryptocurrency Markets Slump Due to US Election

The massive selloff in risky assets seen earlier this week was due to the Bank of Japan (BOJ) cutting rates too quickly, unwinding the yen carry trade.

Bitfinex analysts shared with the publication that the BOJ’s move would allow for a gradual clearing process, which would act as a relief to most leveraged traders, especially those in the United States.

So, according to Bitfinex analysts, the most important story affecting the cryptocurrency markets more than any other is the U.S. presidential election.

Analysts added:

“With Democratic candidate Harris now likely to win with roughly the same odds as the Republican nominee, former President Trump’s odds of winning have also increased, creating uncertainty in the markets, especially cryptocurrencies.”

At the time of writing, Harris and Trump Tied up The prediction market Polymarket had the Democratic candidate at 49% odds. surpass for a moment Former US President today.

According to analysts:

“Based on recent events, the market has made it clear that a Trump win would be a net gain for cryptocurrencies, while a Harris win would be the opposite.”

If Trump’s odds of winning are at their current low, Bitfinex analysts expect the market recovery to continue.

What’s mentioned in this article
recent Alpha Market Report
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Next chapter of ecosystem support program

August 31, 2025

Kindly, MD’s $ 5B Bitcoin Play comes as DATS raises fear of wider Altcoin fluidity.

August 27, 2025
Add A Comment

Comments are closed.

Recent Posts

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025
Most Popular

Kenya Spotlight: Microinsurance for Every Farmer

December 31, 2023

Roaring Kitty Returns with Crypto X Post, Solana-Based CHEWY Mimecoin Surges 28%

September 7, 2024

Jules Rodriguez uses AI voice for unique comedy performance.

January 15, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.