Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
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

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

Bitcoin is more than $ 104K as the merchant’s eyes move from H2 to $ 145,000.

June 20, 2025

Can Etherrium price return to $ 4,000? Analysts say that ETH should go beyond this support.

June 16, 2025
Add A Comment

Comments are closed.

Recent Posts

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 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

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025
Most Popular

6 Major Projects Unlocking $174 Million Worth of Tokens This October

November 28, 2023

Top analysts now see a window of opportunity for Bitcoin and altcoins to explode. But there’s a catch.

December 25, 2024

The 104% CAGR for BTC holders dwarfs the ‘steady growth’ portfolio.

June 10, 2024
  • 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.