BlockBeats News, December 4th, Wolfe Research stated that now is a good time to buy cryptocurrencies on dips. Currently, the cryptocurrency market is showing a significant divergence between bulls and bears, which is creating a potential buying opportunity. The institution still expects that the interim bottom for Bitcoin could be around $75,000, even after Bitcoin rebounds and reclaims $90,000. However, Wolfe also points out that Bitcoin ETF inflows remain weak, and the overall digital asset market is still generally under pressure.
From a technical perspective, the crypto market has returned to a key long-term support area, which has been a turning point in the trend many times in the past. Momentum indicators are improving, and Bitcoin’s current rebound is seen as constructive. Wolfe believes that the next significant test is near the 50-day moving average at $101,000, with $100,000 being the most important psychological level.
