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Victory Securities: Bitcoin's slow rise is waiting for spillover effects

Victory Securities: Bitcoin's slow rise is waiting for spillover effects

CointimeCointime2024/10/15 12:30
By:Cointime

Zhou Lele, the Deputy Chief Operating Officer of Victory Securities, analyzed that the virtual asset market continued to fluctuate slightly last week, with top assets such as Bitcoin and Ethereum swinging and hesitating, but Altcoins with high odds of losses are rebounding and breaking out of the downtrend channel. Last week, the off-market Bitcoin ETF saw a net inflow of about $3.08 billion, while the Ethereum ETF saw a net inflow of about $5 million. The weak balance on the market was broken, and short-term holders gradually increased their holdings, indicating that the recovery phase may begin. The virtual asset shadow stock MicroStrategy hit a new high, and the trading volume of its double long ETF gradually expanded. Investment in MEME coins on the market is hot, and market risk appetite is increasing, but compared to the asset itself, the willingness to trade high-odds derivative products is stronger. Virtual assets may need to wait for the wealth effect overflow of the global stock market to increase their market share.

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