#bitcoin
๐จ ALERT ๐จ
Bitcoin may be on the verge of reclaiming its all-time high of $111,970, but crypto analysts say thereโs little fundamental support for the asset to meaningfully break above the level.
โThe risk of a short-term correction continues to build โ especially in the absence of a strong catalyst to push Bitcoin decisively above the current all-time high,โ Bitfinex analysts said in a report on Monday.
Bitcoiners are faced with a tough call as Bitcoin approaches ATH
โWithout a strong macro or structural upside catalyst, Bitcoin is vulnerable to short-term corrections, particularly as long-term holders distribute into strength,โ they said.
The analysts said that Bitcoin
BTC
$109,429
holders are now faced with a crucial decision whether to sell off or not.
โMarket participants still holding coins from Q1 2025, and who held through the sharp drawdown below $80,000, are now being tested as the price churns sideways near ATH levels,โ they said.