Odaily Planet Daily News 10x Research said in its latest analysis that multiple investors who sold Bitcoin in the $64,000 to $68,000 range are now waiting for favorable re-buy levels. Bitcoin prices are expected to break through the $60,000 to $70,000 range, but a new range that may be lower has not yet been established. The recent decline has investors eager to buy, but our backtest of Monday's major intraday moves suggests that caution is needed at the moment. Additional selling from Jump Trading on Wednesday (in addition to Sunday/Monday) has attracted attention. Continued liquidation pressure from different participants remains a major problem for Ethereum. Recently, Bitcoin spot ETFs have experienced continuous outflows, and stablecoins have not had a large inflow. The absence of buyers in this decline is worrying and raises concerns about the direction of the market. Yesterday, we noticed that Bitcoin tried to rebound, but highlighted the significant resistance in the $56,000-57,000 range, which is an obstacle to the rebound triggered by the Bank of Japan's statement. However, the Bank of Japan did not press the "rewind" button, but only pressed the "pause" button because they may raise interest rates again. Our key message highlights that even if the market shakes off the hype surrounding the Japan carry trade news, downside risks remain for the Nasdaq and Bitcoin could fall further.

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