From a fundamental standpoint, Bitcoin is showing no signs of the asset overheating, according to Galaxy’s head of research.
Bitcoin isn’t flashing any signs of being “overheated” despite reaching new all-time highs this week, with several analysts pointing to fundamentals suggesting Bitcoin could pump further.
“The market does not look overheated from a fundamental perspective,” Galaxy head of research Alex Thorn said in a Nov. 7 market report viewed by Cointelegraph.
Crypto analysis firm Nansen analyst Aurelie Barthere echoed a similar sentiment. “Bitcoin crossing its all-time high with heavy volume is a clear signal of ongoing positive momentum following the elections,” Barthere said in a Nov. 7 markets report.
