The Bitcoin market is witnessing a change in dynamics, analysts report, highlighting signs of slowing growth and potential consolidation.
Current Trading Volume Situation
According to the report, spot trading volumes are decreasing, with fading buyer pressure and increased profit-taking among short-term holders who benefited from BTC's rise above $80,000. Currently, Bitcoin is trading just above $105,000, slightly down from the previous 24 hours.
Short-term Prospects
Bitfinex suggests that Bitcoin may remain range-bound in the near term, indicating a need for renewed demand or external catalysts. Such factors may include increased ETF inflows or macroeconomic relief. Currently, the support range of $94K–$99K is viewed as crucial and must hold to avoid deeper corrections.
Analysts' Optimism and Potential Drivers
Despite the slowdown, analysts remain cautiously optimistic. They note that Bitcoin's structural support is intact, and no major breakdown has occurred. If broader liquidity conditions improve or institutional flows pick up again, the current lull could quickly shift back into bullish territory. Until then, the market appears to be in a holding pattern.
Overall, the current situation in the Bitcoin market suggests a need for careful analysis and anticipation of potential changes in dynamics, which could lead to new trends.
