An FxPro analyst believes that the Bitcoin (BTC) market is more likely to drop by $5,000 in the near term than to rise by the same amount as sellers dominate the market, despite a recovery to over $60,000. Moreover, expectations that data from the US Consumer Price Index could show high inflation, dampening market hopes for a rate cut by the Federal Reserve, increase the likelihood of BTC price weakness in the near term.

Key Points

- FxPro's market analysts point out that the BTC market is more likely to drop by $5,000 in the near term than to rise.

- Analysts believe that Bitcoin's failure to break above $60,000 is related to sellers.

- The "death cross" formed by the 50-day and 200-day simple moving averages is a bearish sign.

- The 14-day relative strength index shows that BTC has moved out of oversold conditions, reducing the momentum for further gains.

- The release of the US Consumer Price Index for July could affect market expectations of interest rate policy.

- The recent market recovery has stalled as Trump loses some of his support in the election market.

- BTC once rebounded to over $60,000, recovering from a drop of more than 50% in the previous five days. #比特币大会 #比特币政策 #虚拟货币 #以太坊ETF通过