ChainCatcher news, according to The Block, BRN analyst Valentin Fournier stated, "The momentum of Bitcoin paused yesterday, reaching a high of $90,000 during the day. We believe this indicates that some large investors are taking profits, which may lead to a brief pullback before the price resumes its upward trend."Fournier noted that upcoming events and technical indicators may suggest potential price reversals. "Currently, the upside potential seems greater than the short-term downside risks. However, if today's upcoming CPI data exceeds expectations, it could trigger market volatility."

ChainCatcher message, since October 13, Bitcoin has risen over 40%. However, traders remain confident in its upward potential, noting that the profit-taking intensity is only about half of that during previous historical high cycles.Glassnode stated in a recent market report: "Although the profit-taking has been significant, it is still below historical peaks, indicating that there is further room for upward movement before potential demand exhaustion."Glassnode explained that since Bitcoin broke through $73,679 on November 5, "realized profits" have averaged about $1.56 billion per day, nearly half of the $3 billion during the last historical peak in March. The report added: "Since entering the latest ATH discovery phase, we have observed $20.4 billion in realized profits."

ChainCatcher news, according to The Block, CryptoQuant pointed out that the price of Bitcoin rose nearly 8% after the U.S. Federal Reserve cut interest rates by 50 basis points. Its "profit supply" indicator has broken through the 365-day moving average, suggesting further potential increases in the future.This indicator shows that an increasing number of Bitcoin holders are in profit, which may alleviate selling pressure and boost market confidence. However, Bitfinex analysts caution that the rise in Bitcoin was initially driven by spot market purchases, and a slowdown in this activity could lead to consolidation or partial pullbacks in the short term.

ChainCatcher news, Bitwise Chief Information Officer Matt Hougan believes that the market is "not optimistic enough" about Bitcoin, and after the Bitcoin 2024 conference, investors need to rethink the potential upside of this mainstream cryptocurrency.Hougan thinks that political support may be due to the increasing popularity of cryptocurrencies among Americans. The industry's strong lobbying influence in Washington has prompted many politicians to publicly support Bitcoin, even if their support is more about attracting its growing visibility rather than a genuine belief in its value.This shift in perspective and the growing popularity of Bitcoin have led Hougan to "rethink what is possible." Hougan points out that ideas once considered far-fetched are becoming increasingly plausible: G20 countries adding Bitcoin to their balance sheets to get ahead of the U.S., comprehensive crypto legislation passing swiftly due to bipartisan support, and Wall Street's large-scale acceptance of crypto.

ChainCatcher news, veteran trader Peter Brandt provided key insights on the price trend of Bitcoin on the social media platform X, emphasizing that the current Bitcoin price pattern "shows a downward channel." Brandt's recent analysis also indicates that Bitcoin may have significant long-term upside potential.

ChainCatcher news, Andrew Kang, co-founder and partner of the crypto venture capital firm Mechanism Capital, published an in-depth analysis on social media regarding the impact of Ethereum ETFs. The article states, "Although the launch of Bitcoin ETFs has attracted a large number of investors, the impact of Ethereum ETFs remains unclear. Data shows that Bitcoin ETFs have accumulated assets under management of $50 billion, but net inflows are only $14.5 billion. In contrast, the estimated net inflow for Ethereum ETFs is only 10% of Bitcoin's, which is $0.5 billion.Andrew Kang points out that Ethereum's appeal as a tech asset is not as strong as Bitcoin's as a macro asset, and the differences in market positioning and holder base have led to this outcome. It is expected that the net buying volume for Ethereum ETFs will be far lower than that of Bitcoin ETFs, and the market's expectations for Ethereum ETFs may be overly optimistic.Before the ETF launch, Andrew Kang predicted that the price of Ethereum would be between $3,000 and $3,800, while after the launch it might be between $2,400 and $3,000. Despite the weaker holder base of Ethereum, there is still hope for the future, especially with improvements in financial infrastructure.Investors should be cautious about the market expectations for Ethereum ETFs to avoid investment risks caused by overly high expectations."

ChainCatcher news, a survey conducted by CoinShares on asset management companies shows that Bitcoin is considered the cryptocurrency with the greatest growth potential, but Ethereum still holds the largest position in their portfolios.A total of 51 investors managing assets worth a combined $900 billion participated in this quarterly survey, with 43% of investors stating that BTC's upside potential is superior to that of ETH. Additionally, custody issues and availability are reasons why institutional investors are reluctant to allocate to digital assets.However, given that 70% of respondents are from Europe and the Middle East, with about 25% from North America and approximately 5% from Asia, this survey may not accurately reflect the current sentiment of U.S. investors.