Galaxy Research Director: From a fundamental perspective, the market is not overheated

BlockBeats News, November 8th: Bitcoin hit a historical high multiple times this week, but did not show any signs of being "overheated." Several analysts pointed out that some fundamental factors indicate that Bitcoin may continue to rise.

"From a fundamental perspective, the market does not appear to be overheated," said Galaxy Research Director Alex Thorn in a market report on November 7th.

Crypto analytics firm Nansen analyst Aurelie Barthere also expressed a similar view. "Bitcoin breaking its all-time high on high trading volume is a clear signal of continued positive momentum post-election," Barthere explained in a market report on November 7th.

Barthere noted that after Donald Trump's victory in the U.S. presidential election on November 5th, traders have started to "re-risk," which has been reflected in the recent upward trend in the crypto market (Cointelegraph).