Newfire Research Institute: The current bottoming process in the crypto market is basically complete, and it may be entering a period of accelerated u...
TL;DR
Newfire Research Institute states the crypto market's bottoming process is complete, with Bitcoin and Ethereum showing significant gains. They predict Bitcoin may challenge $100,000 soon, driven by macroeconomic stability and positive factors like new investments.
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According to Foresight News , the latest market analysis from Newfire Research Institute indicates that a directional breakout in the crypto market has arrived as expected. Last week, Bitcoin's 30-day implied volatility dropped to 40%, the lowest level since October of last year. Such a calm market often precedes a major directional move. This morning, Bitcoin broke through $96,000 and Ethereum broke through $3,300, with 24-hour gains of 4.4% and 7.4% respectively, indicating a clear market direction.
Ding Yuan, Dean of Xin Huo Research Institute, believes that the logic behind this round of price increases is solid. With the overall macroeconomic environment stabilizing in January and February, multiple positive factors such as a16z's new 15 billion yuan fund focusing on crypto and the lifting of South Korea's ban on crypto investment have driven the research institute to maintain its previous core judgment that Bitcoin will challenge the $100,000 mark in the short term, while also being firmly optimistic about Ethereum's "revenge" rebound after its oversold condition.