Il Capo of Crypto, one of the most followed analysts in the cryptocurrency world, shared his first opinions after the historical halving in Bitcoin in his latest statement.
Il Capo is actually known as a bearish analyst, but he has recently softened his statements and has not been talking about the $ 12,000 level, which is his ultimate target for BTC for a long time.
The analyst said that the fourth halving has been completed and can be expected from now on.
According to the analyst, with mining rewards halved, BTC miners often sell some of their reserves to cover their expenses. il Capo said that yesterday the BTC price made a jump from the liquidity zone, reaching $65,000, and then made a comeback again. According to the analyst, yesterday's rise is described as a “dead cat bounce”. il Capo argues that this rise did not have a real beginning, but occurred due to the “short squeeze”.
According to the analyst, there is still a large amount of liquidity between $57,000 and $59,000, and there may be a downward wave to this region again. The analyst thinks that after this decline, a local bottom may form in this region, depending on the market's reaction.
*This is not investment advice.
