Bitcoin’s price may not experience significant downward movement in the short term, as sell-offs on crypto exchanges are “shrinking at a rapid pace,” Bitfinex analysts say.
Bitcoin’s daily realized profit metric has fallen 76% after the initial hype about $100,000 Bitcoin began to wane off, according to crypto analysts.
An analyst says Bitcoin’s correlation with the global M2 suggests it could imminently drop 20%, but not all observers agree.
A crypto trader argued that it is easy for crypto market participants to be "convinced sentiment is one way or the other," while claiming that the sentiment is not "that bullish currently."
Bitcoin’s consolidation around $60,000 has investors sidelined, with a new price range needed to spark activity, according to an analyst.
A crypto analyst says that we haven’t seen this altcoin season because traders keep buying memecoins too early.