The research arm of a top crypto exchange thinks Bitcoin (BTC) could be losing momentum.
In a new research report, Bitfinex notes that BTC’s broader market structure remains healthy, with longer-term support levels still standing.
Current data, however, suggests the top crypto asset is heading into a transition phase, according to the exchange.
Trending: BREAKING: Leaked Emails Reveal the NAME Of Who Approved Fauci’s Pardon Using Biden’s Autopen!
“Both order flow data and on-chain metrics are now aligning to suggest consolidation or a local top, rather than continued vertical acceleration. Spot volume has cooled, taker buy pressure has weakened, and profit-taking has intensified – especially among short-term holders who rode the move from sub-$80,000 levels.”
BTC is trading at $105,864 at time of writing. The top-ranked crypto asset by market cap is down more than 1% in the past 24
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!