Crypto Market Recovery Halted as ETH Faces Resistance, BTC Demand Strong
CryptoNewsTerminal Staff08 Aug, 2024
Crypto Market Recovery Halted as ETH Faces Resistance, BTC Demand Strong
The cryptocurrency market saw a brief recovery opportunity when Bank of Japan (BOJ) Deputy Governor Amamiya stated it was unlikely to raise interest rates in the near term. However, Ethereum (ETH) is still showing weak performance due to liquidations by Jump Trading and ETH transfers related to the PlusToken address, leading to expected resistance in the short term. On the other hand, Bitcoin (BTC) has significant demand for call options expiring in December and March of next year, indicating major funds are holding bullish positions.