Coinbase "Bitcoin expected to recover this month… liquidity is improving"

The United States' largest virtual asset (cryptocurrency) exchange, Coinbase, predicted that the Bitcoin (BTC) market will enter a recovery phase in December.

On the 6th (Korean time), according to crypto-focused media BeInCrypto, Coinbase said in a report, "With improved liquidity and easing selling pressure from Bitcoin holders, the market environment is changing favorably," and analyzed that "the Bitcoin market will enter a recovery phase in December."

As grounds for this prediction, Coinbase cited capital inflows, narrowed spreads, and a macro environment positive for virtual assets. The report explained, "As expectations of an interest rate cut by the Federal Reserve (Fed) become clearer, capital is flowing into the market," and added, "In addition, M2 money supply is also at a record high, which could be a positive factor for Bitcoin."

Coinbase also anticipated that a sharp drop in selling by long-term holders would have a positive effect on the market.

As of 9:20 p.m. that day, Bitcoin was trading at 89,655 dollars, down 1.73% from the previous day, according to CoinMarketCap.