Summary
TLDR: Coinbase Institutional research analyst David Han believes that while some sellers are reducing risk, there is also opportunistic buying of Bitcoin between $60,000-$62,000 levels. This uncertainty reflects Bitcoin’s dual role as both a risky and safe-haven asset.
Key Points
1. Sellers are derisking and taking profits, leading to some downward pressure on the price of bitcoin.
2. There has been opportunistic buying between $60,000-62,000 levels, indicating investor interest in purchasing bitcoin at lower prices.
3. Bitcoin is seen as both a risk asset and a safe haven asset, leading to directional uncertainty in the market.