Analyst: DAT Close Position and ETF outflow lead to weakness in the crypto market, Bitcoin is still expected to reach new highs again.

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ChainCatcher news, cryptocurrency analyst Miles Deutscher pointed out that the current weakness in the crypto market is mainly influenced by three major factors: the pressure from DAT Close Position operations on Bitcoin and Ethereum, the depletion of ETF demand leading to continuous net outflows, and the severe psychological and substantive impact of the events on October 10. Nevertheless, he believes that the strong Rebound in Bitcoin prices could fundamentally change market dynamics and has the potential to reach new highs. Deutscher advises investors to focus on studying potential areas such as smart agents, Bots technology, RWA, and prediction markets during the market downturn, while closely monitoring on-chain Liquidity changes to be prepared for a market improvement.

BTC2.46%
ETH3.58%
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