10X Research Report: Bitcoin Poised to Break New Highs, Ethereum Lags

IconCryptoNewsTerminal Staff12 Jun, 2024

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10X Research Report: Bitcoin Poised to Break New Highs, Ethereum Lags

10X Research, a leading cryptocurrency market analysis firm, released a report on September 12th, predicting that Bitcoin (BTC) is poised to break its previous all-time high of $72,000. The report highlights the potential impact of the upcoming Federal Reserve meeting, where a rate cut is widely anticipated. However, the report also acknowledges that the market is currently seeing selling pressure on long BTC positions, likely due to concerns raised by SEC Chairman Gary Gensler regarding the approval timeline for spot Ethereum (ETH) ETFs. This selling pressure has led to a decline in the ETH/BTC price ratio. Overall, the report provides valuable insights into the current state of the cryptocurrency market and the potential implications of upcoming events.

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