Analysis: Profit-taking may interrupt BTC bull market, and the market may face a deep correction
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Odaily Planet News - On-chain analysis platform CryptoQuant pointed out in its latest research report that profit-taking may interrupt the recent Bitcoin bull market. Some of Bitcoin's demand indicators may be reaching a short-term peak, which means the current upward trend will pause, and the whale accumulation speed is also slowing down, with prices potentially dropping below $100,000. Trader Mags analyzed on X platform, writing: "On the daily chart, BTC has fallen below its previous historical high and faces rejection at the same level. If BTC closes below the horizontal support and resistance levels on the weekly chart, a deeper pullback may be seen." (Cointelegraph)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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