Bitcoin Price Analysis Shows Consolidation that May Continue
At the time of writing, Bitcoin is trading around the $119K level, and the overall chart shows that it may continue to consolidate around this level until something crucial happens.
For now, however, all the major driving factors that could boost the BTC price have already made their impact. The GENIUS Act has gone through approval, MicroStrategy’s BTC holdings have gone above 6,000, and ETFs have been receiving consistent inflows (most of the time).
However, there has not been much major action on the retail side of things, especially since Bitcoin is priced at a value that most are not able to afford.
Does it mean Bitcoin is no longer the best crypto to buy now? No. It merely means that investors must stay cautious and focus on diversifying their portfolios through a mix of altcoins and presales.
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