Analysis: Bitcoin’s current trend lacks breakthrough continuity, and the pullback may not be over yet

Odaily Planet Daily News Affected by the situation between Israel and Iran, Bitcoin once dropped to $102,600, then quickly rebounded to about $106,000, but then fell back to $105,200, still 6% below its historical high. The CoinDesk 20 Index fell 4.4% during the same period, and ETH, AVAX and TON fell by 6%-8%. Despite the general decline in overall crypto stocks, Circle (CIRCL) rose 13% against the trend due to the continued momentum after the IPO and the news that Amazon and Walmart had laid out stablecoins. Analysts generally believe that Bitcoin's current trend lacks breakthrough continuity. Markus Thielen, founder of 10x Research, pointed out that falling below $106,000 is a signal of "failed breakthrough", with short-term support at $100,000 to $101,000. If it falls, it may return to the consolidation zone. Ledn investment officer John Glover predicts that the callback range may drop to $88,000-93,000, and believes that around $90,000 will be a good entry point in the medium and long term, and it is expected to challenge the target of $130,000 in the future. (CoinDesk)