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ChainCatcher news, FxPro Chief Market Analyst Alex Kuptsikevich mentioned that the recent deep pullback in Bitcoin may be attributed to other factors, as the easing of geopolitical tensions between Lebanon and Israel has weakened investors' demand for safe-haven assets like Bitcoin.Additionally, 21Shares' crypto research strategist Matt Mena stated that such pullback behavior has also occurred at previous Bitcoin highs. He explained, "In March of this year, when Bitcoin hovered around the historical high of $69,000 from 2021, a similar pattern emerged.Bitcoin lingered at that price level for nearly seven days before finally breaking through... When the price approached this level, many participants from the previous cycle began to take profits, as they anticipated a potential pullback."

ChainCatcher news, FxPro senior market analyst Alex Kuptsikevich stated in a report that the increase in market risk appetite following the Federal Reserve's decision has helped cryptocurrencies reach new highs in the past three weeks."Since March, a downward trend has been present, with the previous peak of around $64,000 roughly coinciding with the 200-day moving average. We believe Bitcoin may encounter strong resistance at this level, and once this point is broken, the path upwards will be opened," Kuptsikevich said.

ChainCatcher news, according to CoinDesk, FxPro senior analyst Alex Kuptsikevich stated, "In the long term, the activity of Ethereum developers, whether on the blockchain itself or in its increasingly expanding ecosystem, is the reason for the rise of ETH. However, by the end of 2023, this trend has shifted to Bitcoin, as the prospects for exchange-traded funds (ETFs) have become more prominent.It is worth noting that the launch of the Ethereum ETF has not attracted the same buying interest as the Bitcoin ETF, but rather led to net outflows, and has not reversed the downward trend of the ETH/BTC exchange rate.The ETH/BTC exchange rate could further drop into the 0.02-0.03 range. Considering the overall positive sentiment towards altcoins in the months following the Bitcoin halving, as well as the higher beta coefficient of altcoins compared to U.S. stocks, this situation is surprising, especially as U.S. stocks have performed quite strongly in recent months."

ChainCatcher news, according to CoinDesk, FxPro senior market analyst Alex Kuptsikevish stated that despite the weakness of the dollar, the financial markets remain in a state of anxiety and anticipation, which is less beneficial for Bitcoin than for gold. The key technical support level for BTC remains slightly above $54,000, but if there is a surge in volatility, the price may briefly drop below $53,000.

ChainCatcher news, FxPro senior market analyst Alex Kuptsikevich stated that the weakness in Bitcoin may signal warnings for traditional risk assets. He said: "The weakness in cryptocurrencies may reflect a very limited risk appetite, and the rest of the market may soon follow the cryptocurrency's lead. Bitcoin has fallen for the 9th consecutive day in the past 11 days as it attempts to consolidate above the 200-day moving average, triggering strong sell-offs. This pattern has persisted until Thursday morning, as prices continue to test the lows of the past four months, and Bitcoin may struggle to gain lasting strength from the recent weakness of the dollar index."

ChainCatcher message, according to CoinDesk, FxPro senior market analyst Alex Kuptsikevich stated in a report on Thursday that the Federal Reserve's impending easing of monetary policy may encourage BTC bulls to overcome the short-term downward trend, potentially pushing Bitcoin to reach $66,000.However, the report also noted that new selling momentum remains dominant and could pull back to $55,000.

ChainCatcher news, FxPro senior market analyst Alex Kuptsikevich stated that the BTC market shows signs of seller dominance, and it is expected that the price of Bitcoin will decline again in the short term, with a potential drop of around $5,000. He added that the current 14-day Relative Strength Index (RSI) no longer indicates oversold conditions, which means there may still be room for further declines in the market, consistent with the recent situation where sellers have dominated in the $60,000 range.

ChainCatcher news, according to CoinDesk, FxPro senior market analyst Alex Kuptsikevich stated that $61,800 is a key price level for recent Bitcoin bulls.He said, "If Bitcoin can rise above $61,800, it may drive the market to quickly surge to $67,000." Alex Kuptsikevich further explained that $61,800 is also the intersection price point of Bitcoin's 50-day and 200-day moving averages.