Nansen: Bitcoin's Pullback to $70,000 Range Part of Bull Market ‘Macro Adjustment’

Crypto analytics platform Nansen's chief research analyst Aurelie Barthere said most cryptocurrencies have now broken through key support levels, so it's hard to estimate the next key price level, which for bitcoin could be between $71,000 and $72,000, the top of the pre-Trump election trading range, and that the market is still in a ‘macro-correction’ of the bull market, despite the decline in investor sentiment. Despite the drop in investor sentiment, cryptocurrencies and global markets are still in a ‘macro-adjustment’ of the bull market, the market is still in the adjustment phase of the bull market, stocks and cryptocurrencies are realised and priced in, and the Federal Reserve is not taking any action.