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10x Research: Bitcoin may reach new highs after breaking through $67,500

10x Research: Bitcoin may reach new highs after breaking through $67,500

CointimeCointime2024/05/20 04:58
By:Cointime

10x Research released a report stating that this week has high event risks. PYTH (down 38% in the past 30 days) will unlock on May 20th, worth $800 million; AVAX will unlock on May 21st, worth $340 million. Nvidia will release its Q1 2024 financial report on May 22nd, and the deadline for VanEck's spot ETF application is May 23rd. According to the betting market, the probability of the ETF being approved is only 7%. Bitcoin is expected to rise or fall no more than +/-4% this weekend. Bitcoin prices have recently improved significantly, rebounding above the late April resistance area ($67,500), surpassing the early May high ($64,000). Breaking through $67,500 may bring new highs. It sees $68,300 as the "bottom line" and once it breaks through, it may trigger a strong upward trend. Bitcoin traders are bullish, with $67,500 as the next breakthrough point.

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