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CoinEx Research: Monthly Macro Report

2024-02-27 06:45:00

CoinEx Research has released its Macro Monthly Report for February 2024. Predicting Bitcoin Consolidation and Ethereum Outperformance

CoinEx Research has released its monthly crypto market analysis report for February 2024. The report reviews Bitcoin's surge in February amid the approval of the first BTC ETF, but predicts Bitcoin prices may enter into a consolidation range in March. At the same time, it highlights an outstanding performance for Ethereum and upside potential in the ETH/BTC exchange rate.

The report believes that on the back of excessive hype from the Bitcoin ETF, record high market leverage, and selling pressure from miners, Bitcoin may enter an intermittent period ahead of its next halving event. On the other hand, with multiple bullish factors stacking up for Ethereum, including a possible Ether ETF approval, the Duncan upgrade implementation, and a decrease in circulating supply from locked staking coins, ETH could lead the next market cycle in March.

CoinEx Research expects the overall crypto market sentiment to remain positive in March, but Bitcoin may take a break as Ethereum becomes the next trending sector.

Click on the link to get the full report

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