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Analyst: Bitcoin may repeat the 2020 crash rebound pattern
According to a report by Jinse Finance, analysts at CoinShares pointed out that Bitcoin’s current trend may replicate the crash rebound pattern of 2020. Under the geopolitical impact triggered by trade disputes, Bitcoin has fallen 30% from its late January peak, and net inflows into exchange-traded funds (ETF) have decreased by 10% from their peak. Analysts indicate that despite current macroeconomic pressures and bearish signals from technical indicators, this downtrend is similar to that of 2020, when a strong rebound was driven by shifts in monetary policy and investor optimism following a deep correction. Analysts believe that although the current challenges are different from those during the COVID crisis, the fundamental dynamics are remarkably similar.