CryptoQuant Analyst Shares Bitcoin (BTC) and Ethereum (ETH) Expectations! "One Bullish, the Other Bearish!"

The downward trend that began last week in Bitcoin, Ethereum and altcoins continues ahead of Fed Chair Jerome Powell's Jackson Hole speech.

While analysts noted that the tone of Powell's speech will be important for the course of Bitcoin and altcoins, analyst XWIN Research shared their expectations.

Accordingly, the analyst said that BTC may face a short-term correction, while ETH is showing signs of an uptrend.

CryptoQuant analyst XWIN Research Japan noted that Bitcoin is at risk of a short-term correction, while Ethereum, which has been attracting attention with its recent performance, reportedly continues its upward momentum.

At this point, the analyst pointed out that despite recent price fluctuations, exchange reserves remained at approximately 2.53 million BTC.

According to the analyst, this suggests that investors are not withdrawing BTC. Historically, declining reserves suggest that Bitcoin is leaving exchanges for the long term, reducing selling pressure. This time, reserves are holding steady, suggesting that some of the BTC supply remains liquid and potentially available for sale.