Analyst Predicts Short-Lived BTC Dip

IconCryptoNewsTerminal Staff09 Jul, 2024

cryptonews.jpg

Analyst Predicts Short-Lived BTC Dip

BTC's recent price drop may be temporary, according to analyst Burak Kesmeci. He points to the withdrawal of 81,000 BTC from exchanges over the past week, suggesting that large holders are accumulating. Kesmeci notes that while selling pressure is present, it's unlikely to last due to the relatively small amount being sold compared to the overall market cap. Despite bearish indicators like the NVT golden cross, Kesmeci believes the dip is short-term and will soon reverse.