BlockBeats News, December 4th, Wolfe Research stated that now is a good time to buy cryptocurrencies on the dip. There is currently a clear divergence between bulls and bears in the cryptocurrency market, which is creating a potential buying opportunity. The firm still expects that Bitcoin’s cyclical bottom may be around $75,000, even after Bitcoin rebounds and surpasses $90,000 again. However, Wolfe also pointed out that Bitcoin ETF inflows remain weak, and the overall digital asset market is still generally under downward pressure. From a technical perspective, the crypto market has returned to a key long-term support area, which has served as a turning point for the market multiple times in the past. Momentum indicators are improving, and this Bitcoin rebound is also seen as constructive. Wolfe believes the next major test is near the 50-day moving average at $101,000, while $100,000 is the most significant psychological level.
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