Analysis: The crypto market has not yet broken through the 200-day MA, a strong breakout above the $2.9 trillion level could trigger positive buying.

According to ChainCatcher news and reported by CoinDesk, Bitcoin and other major Crypto Assets fell over 3% during the early trading session in Asia on Friday, which is in line with market expectations, mainly influenced by profit pullback. Sean Dawson, research director of the on-chain options platform derive.xyz, stated: “In the past 24 hours, the probability of Bitcoin breaking above $100,000 before June 30 has increased from 20% to nearly 30%. Meanwhile, the probability of Ethereum staying above $2,000 before June 30 is now a coin toss — 40% 24 hours ago.” Alex Kuptsikevich from FxPro maintains a cautious stance, focusing on the $80,000 support level for Bitcoin as a key observation area: “The crypto market has yet to break through its 200-day moving average, currently close to $2.9 trillion. A strong breakout above this level could trigger a positive buying phase, but there is also the risk of bears setting traps, as they have done multiple times before.” “For Bitcoin to maintain momentum, it is crucial to stay above this key level. If this can be achieved, it may spark renewed buying interest in a range of tokens that have been in a pullback phase for some time,” he added, referring to the broader altcoin and meme coin market.