Antoni Trenchev, the founder of crypto lending platform Nexo, made remarkable comments about the current situation of Bitcoin (BTC), while pointing out the level of resistance.
Nexo founder Antoni Trenchev commented on the current state of the cryptocurrency market, especially Bitcoin. world giants BlackRock And fidelity Making statements about the spot Bitcoin exchange-traded fund (ETF) applications submitted by names such as, Trenchev said that the next level of resistance for Bitcoin 32 thousand dollars claimed it was.
Although the founder $32,000 as resistance although this level can’t stop the rise He reminded that the months of July were generally good for Bitcoin. While Trenchev stated that the upward trend may continue, certain conditions must be met stressed.
Bitcoin is still macroeconomic inflation And US Federal Reserve (FED) Defending that he is in danger against the hawk policies, Trenchev said that these factors are short-term psychological resistances.
On the other hand, the US Securities and Exchange Commission (SEC) Rejecting Bitcoin ETF applications of the cryptocurrency market catastrophic implied that it could take on an atmosphere.
If the SEC does not approve one of these spot Bitcoin ETFs, it will undoubtedly cause more than a ripple in the crypto market.
The situation is different for altcoins.
Trenchev, who did not hesitate to compare the price activity of the altcoin market and Bitcoin in his statement, said that things are on that front. it is more difficult brought to the fore. Bitcoin’s past April Reminding that he broke the highest level in the month, the founder said that the altcoin market was above the April level. 20% below and 2021 from the peaks average below 70% He added that he was.
In lawsuits filed by the SEC against Binance and Coinbase, many altcoins securities While noting that the qualification of the by the end of the year He said it could be extended.