Bitcoin approaches key resistance level.
Bitcoin has recently shown strong rebound momentum, and its price has approached an important technical resistance level of $65,000. Despite the recovery in market sentiment, analysts remain cautious, pointing out that Bitcoin needs to successfully break through the high of $65,200 on August 25 to be considered a true reversal of the long-term downward trend.
After a brief correction, the price of Bitcoin remained above $64,000, showing that the market still has strong confidence in its future. However, analysts stressed that the rebound at this stage has not yet fully confirmed the reversal of the long-term trend, and investors need to continue to pay close attention to whether Bitcoin can overcome this key resistance.
In terms of volatility, Matrixport's latest research report pointed out that with the launch of Bitcoin ETF-related options and the continuous participation of institutional investors, Bitcoin's volatility is expected to continue to decline. This trend provides investors with a new strategy option to sell volatility for additional returns. Although the strategy has the risk of loss, overall, as Bitcoin volatility further decreases, the strategy is still expected to perform well.
At present, the Bitcoin market is at a critical turning point, and its subsequent trend will be affected by many factors. The continued prosperity of the US stock market has injected strong momentum into the recovery of the global economy. While paying attention to these market dynamics, we must also maintain rational thinking and carefully evaluate various investment opportunities and risks.
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