🔥🔥ETC Group Research Head Commented on the Latest Situation of Bitcoin (BTC)! 🔥🔥

Bitcoin (BTC) price movements are frequently shaped by global events and various analyst opinions. Recently, Bitcoin recovered to $66,300 levels after falling below $60,000 due to the impact of the Israel-Iran conflict. However, ETC Group Head of Research André Dragosch states that the decline in the performance of crypto hedge funds has a negative impact on Bitcoin.

Dragosch states that there were significant declines in global crypto hedge funds last week, and as a result, investors who were long on Bitcoin were liquidated. Stating that crypto assets started to recover after the decrease in geopolitical tensions and the Bitcoin halving, Dragosch still argues that the Bitcoin halving will not have a major impact in the short term. According to him, the supply deficit caused by the halving accumulates over time and its impact is limited in the short term.

These views offer different perspectives on how the volatility and short-term speculation inherent in the Bitcoin market interacts with fundamental factors such as supply and demand. Dragosch's report based on the crypto asset sentiment index explains the reasons for the declines in the crypto market and the recent recovery, while also providing clues about the volatility in Bitcoin.

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