🟠Challenges Ahead for Bitcoin in Reaching a New All-Time High
Despite #bitcoin nearing its all-time high, market data suggests that selling pressure from investors and sluggish growth could hinder the breakout.
Analysts emphasize that holding the support level at $106,265 is crucial to maintaining bullish momentum. While indicators such as rising miner reserves and a Puell Multiple below 2 suggest continued upside potential, short-term holders remain a key source of downward pressure.
A recent study by Bitfinex highlights the $95,000 level as a critical pivot for determining the market’s direction.
Despite #bitcoin nearing its all-time high, market data suggests that selling pressure from investors and sluggish growth could hinder the breakout.
Analysts emphasize that holding the support level at $106,265 is crucial to maintaining bullish momentum. While indicators such as rising miner reserves and a Puell Multiple below 2 suggest continued upside potential, short-term holders remain a key source of downward pressure.
A recent study by Bitfinex highlights the $95,000 level as a critical pivot for determining the market’s direction.
2 days ago
