FXPro Chief Analyst: BTC has remained stable pump since the 'Long Wick Candle' on Monday, enhancing the prospects of market recovery.

Odaily Planet Daily News FXPro Chief Market Analyst Alex Kuptsikevich said that the decline in risk appetite may exacerbate the future decline of BTC. In a negative scenario, BTC may fall back to 74,000 US dollars. But it is certain that since the “Long Wick Candle” on Monday, BTC has basically maintained a stable pump, and returning to the key level of 90,000 US dollars has further strengthened its recovery prospects. In addition, while Wednesday’s key CPI report will play a crucial role in the short term, overly optimistic policy expectations may disappoint the market in the coming weeks. Analysts believe that when prices pump, the selling pressure mainly comes from long-term holders taking profits. When prices fall, the selling pressure mainly comes from short-term holders selling at a loss. On-chain data shows that in the past few days, 50%-70% of the sales were at a loss. (Business Insider)