Bitcoin (BTC) prices have decreased to less than $ 103,000 after a 1.17% decrease in the last 24 hours. Maiden Cryptocurrency has witnessed a significant market correction since its new all -time high of $ 111,970 on May 22 on May 22. Despite the ongoing recession, BTC has achieved outstanding results in the current encryption market cycle, which has more than 600% of the price profit since its inspiration at the FTX in November 2022.
Interestingly, Miles Deutscher, a famous password analyst, jumped into one of the most famous strong driving factors of assets, emphasizing positive and negative potential.
Strategy, Others: Bitcoin’s largest allies and dangers say
In the X post on June 21, Miles Deutscher shared interesting things about the potential of Bitcoin Treasury Company in the market. In the context, Bitcoin Treasury Company refers to business with BTC Holdings in the balance table. Like retail investors, these companies have decided to acquire BTC as preliminary assets and long -term investments, unlike traditional assets such as gold, cash or bonds.
According to Coingecko’s data, there are 34 Bitcoin Treasury Companies with 34 publicly traded 724 and 612 BTC. The company is Tesla Inc., Metaplanet Inc., Marathon Digital Holdings and the most prominent Microstrategy Inc. It contains the same name as (strategy), which owns 576,230 BTC, which represents more than 2% of the market supply.
In general, the emergence of Bitcoin Treasury Company was a strong development that is experiencing institutional investment in Bitcoin with the SPOT ETF market. Miles deutscher assumes that the increase in public recognition of BTC’s investment potential by liquor companies will be a contribution to the rise of assets.
But the famous market analysts also emphasize the potential risks that Bitcoin financial companies present as negative catalysts. Due to the trust responsibility, he warns of possible scenarios that can lead to forced sales during the bear market or a wide range of economic downturn.
According to Miles Deutscher, the actual threat is not a real representative, but rather a frontal execution of Smart-money investors. He pointed out that this epidemiology could be extended to the Bitcoin ETF market. In the risk -off environment, institutional investors can lead to significant leaks by welfare for market shortcomings.
BTC price outline
At the time of writing, Bitcoin was traded at $ 102,843 last week, reflecting a 1.85% decrease. Following this drop in the price, the interest of investors will be changed to a $ 100,000 psychological support area, which will intensify the market liquidation.
The main image of the Reuters, the chart of TradingView
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