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10x Research: HYPE's Current Valuation Remains High, Traders Should Consider Taking Profits

AirdropBlackHole
robot
Abstract generation in progress
On July 2, 10x Research published on platform X that Bitcoin is still in a bearish trend structure. Although Federal Reserve Chairman Waller avoided questions related to interest rate hikes, leading to a market rebound, the final low point of this round of market activity has yet to be seen. However, this week, the more noteworthy market activity is not on the Bitcoin side. While Bitcoin continues to weaken, a number of lesser-known altcoins have collectively risen above their 30-day moving averages, significantly outperforming the broader market, which is a typical signal of initial capital rotation. In our view, Hyperliquid (token HYPE) is currently overvalued. Traders should not continue to hold HYPE and may consider taking profits and switching to other assets with better growth opportunities to position themselves for the next round of upward market movement.
HYPE2.52%
BTC4.41%
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