Bitcoin downside risk lingers, upside hinges on holding above $102K

Bitfinex analysts say Bitcoin’s current market conditions signal the asset “reversing course shortly after aggressive selling.”

Bitcoin is still at risk of falling further, and it must hold above $102,000 to stay on track for a potential rebound, crypto analysts say.

Bitfinex analysts said in a markets report on Tuesday that if Bitcoin (BTC) “can hold above the $102,000 - $103,000 region for a sustained period, it would suggest that the market is absorbing the selling pressure effectively.” 

The analysts said that “some downside risk still lingers” for Bitcoin amid macroeconomic volatility and military escalations between Israel and Iran, but it presents a high-stakes yet potentially rewarding opportunity for investors.

Read more