Trader Nachi: Bitcoin breaks below key range, market unlikely to see significant recovery before year-end.

According to Odaily Planet Daily, crypto trader Nachi stated in his latest market analysis that although Bitcoin rebounded briefly after falling below the key $100,000 price level, it subsequently fell back below its core support level, and the overall trend remains weak. He pointed out that the US stock market's momentum has weakened due to decreased expectations of a December rate cut and the postponement of the government shutdown, with investors inclined to take profits at the end of the year.

Nachi believes that although crypto assets still face some downside risks, the market has already experienced a significant correction, and shorting at this point may have limited upside potential. In contrast, crypto-related stocks such as Coinbase (COIN) and Robinhood (HOOD), which have performed strongly previously, still have the potential to fall further, offering a better risk-reward ratio. However, shorting operations require flexibility.

He advised investors who are not good at short selling to increase their cash positions and wait for a more favorable entry point, and predicted that the overall crypto market would be unlikely to see a significant recovery before the end of the year.