Viewpoint: Bitcoin bullish sentiment is strong, there may be a short-term correction
Greeks.live released a community newsletter, with the market maintaining a bullish trend overall. It is expected that Bitcoin will continue to rise, with a key support level at $110,000 and short-term target at $120,000, and long-term target at $150,000-$200,000. Analysts predict that there may be a retracement to the $100,000-$103,000 range before reaching a new high. It is worth noting that the negative funding rate indicates a large number of short positions, which may trigger a short squeeze and further push up prices. Meanwhile, Ethereum has shown relatively weak performance, failing to follow Bitcoin in reaching new highs, with a target price of $3,000. Reports suggest that Ethereum whales have become more cautious about selling bullish options after experiencing market fluctuations.
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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