CandleFocus After the Surge in Bitcoin, Analysts Reveal What They Expect Next
2024-09-26
Author: Content Editor
Bitcoin surged above $65,000 due to positive US employment data and China's economic stimulus measures. However, some analysts have noted that Bitcoin has underperformed compared to US and Chinese stocks since China's announcement of stimulus packages. The measures taken by China primarily affect the local economy, which may be a reason for Bitcoin's underperformance. While global stock markets rose on China's stimulus pledge, Bitcoin's price action was less clear. Market uncertainty is hindering Bitcoin's ability to attract passive flows, according to Bitfinex analysts.
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