Summary
- Global virtual asset exchange Bitfinex stated that Bitcoin faces downside risks due to macroeconomic conditions and geopolitical risks.
- It was analyzed that maintaining the $102,000 level is an important standard for defending the market.
- If this price range is defended, it would mean selling pressure is being effectively absorbed and, if buying sentiment recovers, high-risk, high-reward opportunities may arise.
An analysis suggests that Bitcoin must defend the $102,000 level to withstand downward pressure caused by macroeconomic conditions and geopolitical risks.
According to a Cointelegraph report on the 18th (local time), global virtual asset (cryptocurrency) exchange Bitfinex said in a market report: "Recently, due to macroeconomic volatility and heightened military tensions between Israel and Iran, there are concerns over the potential downside risks of Bitcoin. This environment may create high-risk, high-reward opportunities if buying sentiment recovers and the upward trend continues," it explained.
The report added, "If Bitcoin maintains the $102,000–$103,000 area, it would indicate that the market is effectively absorbing selling pressure."
YM Lee
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