Bitcoin fell to $97,000 yesterday during the DeepSeek-induced US stock crash. However, BTC recovered and regained $102,000.
While this sudden drop has investors worried, Bitwise European head of research Andre Dragosch said that BTC is extremely bullish.
Comparing Bitcoin with Nasdaq and S&P 500, Dragosch said that the fact that Bitcoin is gaining stability while others continue to fall is a bullish sign for BTC.
“The fact that NASDAQ continues to fall while Bitcoin is stabilizing, I think shows excessive optimism. This is a very bullish signal.
Bitcoin has also outperformed the NASDAQ in the last 2 trading days.
Bitcoin is showing a limited decline here.”
Apart from Andre Dragosch, Material Indicators co-founder Keith Alan also said that the bullish expectation continues.
Stating that the decline should not shake the expectation of an increase, Alan said that the D candle indicator points to an increase and consolidation before it.
Stating that the recent decline was a buying opportunity, Keith Alan stated that he bought BTC:
“Bitcoin’s recovery from the 21-day moving average before the D candle closed was a positive sign. The new Trend Prediction signal is an indication that BTC is likely to continue consolidating within this range before making its next explosive move.
I saw this dip as a buying opportunity and added to my BTC position.”
*This is not investment advice.
Continue Reading: Is the Latest Drop in Bitcoin a New Opportunity? What is the Latest Situation in BTC? Two Top Analysts Answered!
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Author: NixCoin
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