#bitcoin
🚨 ALERT 🚨
Bitcoin may be on the verge of reclaiming its all-time high of $111,970, but crypto analysts say there’s little fundamental support for the asset to meaningfully break above the level.
“The risk of a short-term correction continues to build — especially in the absence of a strong catalyst to push Bitcoin decisively above the current all-time high,” Bitfinex analysts said in a report on Monday.
Bitcoiners are faced with a tough call as Bitcoin approaches ATH
“Without a strong macro or structural upside catalyst, Bitcoin is vulnerable to short-term corrections, particularly as long-term holders distribute into strength,” they said.
The analysts said that Bitcoin
BTC
$109,429
holders are now faced with a crucial decision whether to sell off or not.
“Market 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,” they said.