Analysis: Ethereum has held its support level, and Bitcoin is expected to rebound to $100,000

BTIG, a Wall Street firm, has analyzed that the recent pullback of Bitcoin has brought its price to an oversold state, with a potential rebound expected to around $100,000, and it may strengthen before the end of the year. BTIG also noted that although Ethereum has dropped by 47%, it is currently holding its support level, and it may move towards $3,400.

In addition, cryptocurrency mining stocks have also shown resilience, with the Barclays mining index potentially rising another 15%. Companies like Cipher Mining and Terawulf have demonstrated relative strength, and after a 63% drop, Strategy's stock has shown mean reversion opportunities, thus maintaining a target price of $630.