According to ChainCatcher, 10x Research said that its initial Bitcoin downside target of $55,000 has been reached. Bitcoin appears to be oversold in the short term, and a rebound may occur, and macroeconomic benefits are expected next week.

In addition, the SEC may approve the Ethereum ETF, which may have a positive impact in the short term. However, in the medium term, they do not believe this is a significant buying opportunity.