TechFlow news, November 7: Galaxy CEO Mike Novogratz posted on X platform stating that the cryptocurrency market has recently been very sluggish. After a prolonged bull market, many long-term holders are now readjusting their asset allocations, diversifying investments and reducing concentrated positions. From a medium to long-term perspective, position diversification benefits market development, but exerts short-term downward pressure on prices. Currently, the crypto market has not reached a cyclical peak. By the end of this year, the Federal Reserve may welcome a new chair whose stance could be more dovish than what the market has previously been accustomed to, potentially serving as a catalyst for the next upward cycle.
Add to Favorites
Share to Social Media
