Foreign media: SkyBridge Capital founder Anthony Scaramucci argued that Bitcoin did not need to rely on “narrative” to support the price. With BTC stabilizing after a two-month reversal, he attributed more of the recent fluctuations to the adjustment of the market itself than to fundamental changes.
Price up.
As at noon on 9 July, the BTC newspaper US$ 62,952 increased by 1.13 per cent 24 hours. According to the article, in early July the BTC returned to the 58,000 to 59,500 United States dollars range and then began repairing.
The pressure comes from the market structure.
It was mentioned that the decline was mainly related to the centralization of leverage storage and the passive sale of miners to cover operating costs, rather than to the deterioration of basics. IRSI has also returned to 49.24, which is clearly far from the extreme oversale area.
Long-term logic of bitcoin
Scaramucci also stressed that the core value of bitcoin came from a fixed supply ceiling of 21 million. The article also mentions that the FET system established in the past few years also provides a more stable institutional access to the market.