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Victory Securities: Bitcoin Rises Slowly Waiting for Spillover Effects

Victory Securities: Bitcoin Rises Slowly Waiting for Spillover Effects

Bitget2024/10/14 18:14

On October 15, Victory Securities deputy chief operating officer Zhou Lele issued an analysis that the virtual asset market continued the trend of last week's slight shock, the head assets such as bitcoin and ethereum have swings and kinks, but Altcoin, which has high odds, is recovering out of the downward channel. OTC Bitcoin ETF inflows were about $3.08 billion last week and Ether ETF inflows were about $5 million; the weak balance in the market was broken, short-term holders gradually increased their holdings, and the recovery phase may open. Virtual asset shadow stock MicroStrategy made a record high, and its double long ETF volume also gradually expanded. On-market investment in meme coins is hot, and market risk appetite is rising, but the willingness to trade high-odds derivatives is stronger than for the assets themselves. Virtual assets may need to wait for the wealth effect of global stock markets to spill over and pull up market share.

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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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