Bitcoin is preparing to achieve its all-time high next week . Cryptocurrency research firm 10x Research has warned that a sharp decline in Ethereum prices could prevent Bitcoin from achieving a new, sustainable high above $83,000, according to an analysis published June 7 and shared with CryptoSlate. Over the past week, the price of Ethereum has faced significant difficulties compared to the price of Bitcoin. The second largest digital asset fell by about 1.2% during this period, while the price of Bitcoin rose by more than 3%. Although not explicitly stated in the report, 10x Research believes that Ethereum may hold back Bitcoin from a market sentiment perspective.
According to 10x Research on Ethereum's future position, the report indicated that traders were more willing to bet on Bitcoin. In addition, the company predicted that demand for Ethereum exchange-traded funds (ETFs) would not meet expectations.
