Leading cryptocurrency bitcoinSome investors continued to consolidate in a narrow range, as evidenced by on-chain data. BTCIt expects an upward movement.
However, investors will wait a little longer for this move. For Bank of America in its final report cryptocurrency He wrote that he expects trading volumes to remain under pressure.
According to the news of Coindesk, BoF analysts stated that they believe that increases in crypto prices will be limited in the near term, as the majority of retail investors do not enter the market and are waiting on the sidelines.
BoF analysts led by Alkesh Shah and Andrew Moss made the following statements in the report:
“Low belief on the part of individual investors, limited catalysts for bullishness, and high year-to-date performance of BTC and cryptocurrencies leave the digital asset industry stuck in a trading range with a challenging macro backdrop.
In this context, we expect crypto trading volumes to remain low as the majority of retail investors stay on the sidelines.”
Analysts also report on traditional finance. (TradFi) He added that companies and technology firms continue to create blockchain applications focused on demand deposits, repurchase agreements and tokenizing bond issuance.
*Not investment advice
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