Gracy Chen highlights Bitcoin pullback risks amid summer highs
@GracyBitget: Bitcoin pullback risks highlighted
Amid the summer heat, the cryptocurrency market is also experiencing a warm spell. However, Gracy Chen suggests that Bitcoin may soon need a ''healthy cooldown.''
According to recent on-chain signals, particularly the MVRV Z-Score, Bitcoin's momentum shows potential signs of insufficient upward drive, hinting at a likely price pullback of 20-30%, placing Bitcoin in the $80,000 to $90,000 range.
''But no sweat,'' notes Chen, emphasizing that if Bitcoin stabilizes around the $85,000 support level, this could merely represent a ''sun-soaked reset.'' This perspective hints at potential stability and recovery in Bitcoin's performance, allowing for future gains after a short-term correction.
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Chen’s outlook arrives at a time when investor concerns over volatility and market integrity remain acute. Her prior examination of Bitget's initiatives to safeguard cryptocurrency holdings, as outlined in the recent anti-scam report, underscores the critical importance of security amid shifting valuations. Furthermore, her analysis of the GENIUS Act’s implications for dollar liquidity and bond market dynamics provides broader context on the regulatory forces shaping crypto’s future trajectory.
In the previous news, tweet author Robert Breedlove discussed financial decentralization and transparency.
