ChainCatcher news, according to Marketwatch, Saxo Bank analyst Kim Kramer Larsson stated that if Bitcoin falls below the support level of around $90,690, it may face a larger decline.In the past five days, the price of Bitcoin has dropped by 3.9%, but it rose by 2.6% this Friday, trading at approximately $94,061, currently down about 13.2% from its all-time high of $108,309 set on December 17, 2024.Kramer Larsson analyzed that Bitcoin is forming a top according to the so-called head and shoulders pattern, which is a chart pattern in technical analysis that predicts a reversal from a bullish trend to a bearish trend. If Bitcoin falls below the support level of around $90,680, it could potentially drop to $73,000.

ChainCatcher news, Ole Hansen, the head of commodity strategy at Saxo Bank, stated that the employment data did not "change the outlook for a rate cut by the Federal Reserve in two weeks."Additionally, Bill Eigen, a bond expert at JPMorgan Asset Management, warned the market ahead of the Fed's next meeting that the room for rate cuts may not be as large as it imagines, and central banks should be cautious about cutting rates again in December. He added that this is due to some signs indicating that the U.S. economy is beginning to heat up again, including strong GDP growth, slightly higher-than-expected inflation data from last month, and record stock prices.

ChainCatcher news, according to Jinshi Data, Saxo Bank strategist John Hardy stated that if the trade tariffs proposed by U.S. President Trump lead other countries to seek alternatives to the dollar, the cryptocurrency market and gold may benefit.Tariffs will have a terrible impact on global trade as they will cut off the necessary supply of dollars, and BRICS countries may trade using means such as gold-backed digital currencies.Cryptocurrency stablecoins linked to gold may also be used, and the crypto market could quadruple, reaching over $10 trillion, while the dollar may depreciate by 20% against major currencies and by 30% relative to gold.

ChainCatcher news, Althea Spinozzi, Head of Fixed Income Analysis at Saxo Bank, stated that in terms of market focus, the U.S. election may take precedence over monetary policy.Spinozzi mentioned that the outcome of the U.S. election could have a significant impact on major economies. "Regardless of the outcome, we may see a very different world, and investors will need to adjust their expectations," Spinozzi said. (Jin Shi)