ChainCatcher news reports that BTIG analysis from Wall Street indicates that Bitcoin's recent pullback has brought its price into an oversold state, with a rebound expected to approach $100,000, and it may strengthen before the end of the year. BTIG also noted that while Ethereum has dropped by 47%, it is currently holding its support level, and it may move towards $3,400. Moreover, crypto mining stocks have shown resilience, with the Barclays mining index potentially rising another 15%, while companies like Cipher Mining and Terawulf have demonstrated relative strength. After a 63% decline, Strategy's stock has shown mean reversion opportunities, thus maintaining a target price of $630.
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Analysis: Ethereum has held the support level, Bitcoin is expected to rebound to $100,000.
ChainCatcher news reports that BTIG analysis from Wall Street indicates that Bitcoin's recent pullback has brought its price into an oversold state, with a rebound expected to approach $100,000, and it may strengthen before the end of the year. BTIG also noted that while Ethereum has dropped by 47%, it is currently holding its support level, and it may move towards $3,400. Moreover, crypto mining stocks have shown resilience, with the Barclays mining index potentially rising another 15%, while companies like Cipher Mining and Terawulf have demonstrated relative strength. After a 63% decline, Strategy's stock has shown mean reversion opportunities, thus maintaining a target price of $630.