Why Did Bitcoin’s Rise Stop? Is There a Possibility of a New Rally for BTC? Bitfinex Analysts Explained!
As the leading cryptocurrency Bitcoin (BTC) continues its sideways trend, investors are eagerly waiting for a major rally to come.
However, Bitfinex analysts said the Bitcoin rally was losing momentum as profit-taking increased and volume decreased.
Uptrend Momentum Weakening!
Bitcoin’s nearly three-month rally appears to be losing momentum as buying pressure weakens and profit-taking intensifies, Bitfinex analysts said.
Although BTC has surged 40% from its April lows to above $107,000, analysts argued that the market has entered a consolidation phase rather than continuing its sharp uptrend.
Analysts claimed that falling Bitcoin spot volume is entering a period of consolidation rather than sustained bullish momentum and could signal a local top.
As Bitcoin loses its upward momentum, analysts said that BTC’s next move will depend on macro factors and institutional demand, especially from ETF inflows.
“For the first time in Bitcoin’s nearly three-month-old uptrend, momentum has begun to fade.
Spot trading volume cooled, buyers’ buying pressure weakened, and profit taking intensified.
The selling is particularly concentrated among short-term investors who are evaluating the move from levels below $80,000.
At this point, Bitcoin’s bullish momentum remains dependent on ETF inflows and macro factors.”
Despite the short-term uncertainty in Bitcoin at this point, analysts said that the longer-term bullish structure remains strong and said, “Current data points to a transition phase.”
*This is not investment advice.
