Matrixport Co-Founder: This Weekend's Crypto Weakness is an Opportunity to Buy the Dip
CryptoNewsTerminal Staff24 May, 2024
Matrixport Co-Founder: This Weekend's Crypto Weakness is an Opportunity to Buy the Dip
Matrixport co-founder Daniel Yan has predicted that "the crypto market as a whole will see a pullback this weekend." He went on to say that "BTC was at 67400 and SOL was 179 earlier this week before ETH led the crypto market to a short-term pump. Currently, BTC has retraced back to 67200 and SOL has retraced to 168. With the long weekend including Memorial Day in the US, the market is likely to see lower liquidity and higher volatility, leading to the short-term pullback. However, the market is likely to see a recovery once the US PCE data for April is released on May 31st (local time). Therefore, this weekend's weakness in the crypto market could be an opportunity to buy the dip.
