10x Research: Bitcoin market momentum weakens, South Korea's trading volume drops from 25 billion USD to 6.7 billion USD
10x Research tweeted that the current market situation of Bitcoin can be likened to the death zone of climbing Mount Everest, which is a critical stage with increased risk. Although Bitcoin may not have reached its peak, some indicators show that market momentum is weakening and high vigilance needs to be maintained.
In the past two weeks, the price of Bitcoin has fluctuated within a narrow range. After touching the upper and lower limits of this range last week, it returned to the middle, forming a Doji pattern indicating market hesitation.
Historically, this pattern could suggest trend continuation after short-term adjustments. However, combined with on-chain data and market structure analysis, there remains uncertainty in future trends. In addition, South Korea's cryptocurrency trading volume has dropped significantly from 25 billion USD to 6.7 billion USD; clearly showing weakened market activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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