Bitcoin is showing signs of fatigue, with altcoins experiencing significant sell-offs, raising questions about the future of the crypto market.
Current Market Situation
At the time of writing, Bitcoin is trading around $118,600 with daily trading volumes exceeding $73 billion. The technical trend remains bullish; however, the formation of a rising wedge raises concerns about a potential reversal.
Potential and Risks for Bitcoin
Some experts believe the current state is merely a slowdown before another rise towards $130,000 or beyond. However, there are also pessimists who think the market may face a significant correction if large investors begin to offload their assets.
Investor Activity Dynamics
Recent reports indicate that retail investors are scaling back in an effort to lock in profits. Meanwhile, large Bitcoin holders continue to accumulate assets, suggesting a divergence in sentiment between different investor groups.
At this moment, Bitcoin’s future remains uncertain. Its success or failure will depend on buyer activity and potential actions by large investors.
