Analyst: Without a major "catalyst" in the near future, it will be difficult for BTC to break through the $93,000 resistance level

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ODAILY
04-22
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Odaily Planet News - Compass Point analyst Ed Engel stated in his latest report: "Bitcoin continues to show resilience... with a week-on-week increase of 4%, while the S&P 500 index fell by 6%. Historically, during macro sell-offs, Bitcoin's correlation with stocks has been close to 1.0; however, its 30-day correlation with the S&P 500 index is only 0.65. Although we are optimistic about Bitcoin's recent decoupling, its recent strength is accompanied by thin trading volume, which reduces confidence in breaking through the $93,000 resistance level without major catalysts like Federal Reserve easing policies or tariff agreements. That said, long-term Bitcoin holders remain steadfast, and as Bitcoin's liquidity decreases, Strategy's purchase volume is rebounding... these factors can further support its resilience against stock and fixed income volatility." (CNBC)

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