Bitcoin continues to remain in the range of $100,000-$110,000 since June 23, showing no clear dynamics. Analysts discuss the reasons for this stagnation.
Reasons for Bitcoin's Stagnation
Bitfinex analysts note that investors are hesitant to buy Bitcoin due to a lack of momentum to reach new highs, resulting in Bitcoin not rising to the expected levels.
Market Pressure Analysis
The FxPro analysis indicated that profit-taking pressure is influencing the decreased buying appetite. Investors remain cautious as Bitcoin struggles near the resistance level around $110,000.
Analysts' Opinions on Bitcoin's Future
Alex Kuptsikevich from FxPro emphasized that although Bitcoin is still trading above the 200-day moving average—indicating a current bull market—negative movements could lead to rapid profit-taking and price declines.
The current situation surrounding Bitcoin remains ambiguous. While it struggles to overcome certain levels, various factors, including profit-taking pressure and investor caution, continue to impact its price.
