Despite attracting a wave of new buyers, Bitcoin’s recent rally has slowed, raising concerns about potential consolidation in the market. Leading cryptocurrency analytics firm Glassnode warns that growing consolidation risks are present for Bitcoin. 📈
Bitcoin has recently experienced a surge from $93,000 to over $105,000 within the last week. However, this impressive rally appears to be weakening.
Although the broader crypto market remains bullish, major cryptocurrencies like Bitcoin have slowed their recent uptrend. Analysts attribute this shift to heightened risk appetite from investors. This decline is also attributed to increased profit-taking from existing holders and a lack of sustained momentum buyers.