Bitcoin Fails to Break $110,000… Experts 'Stay Cautious Without New Catalyst'

While Bitcoin (BTC) is hesitating without surpassing its all-time high of $111,970 (approximately 1.552 billion won), a cautious atmosphere is forming among investors. The cryptocurrency analysis platform Bitfinex recently pointed out in a report that the bull market needs a new catalyst or a clear macroeconomic direction to gain additional upward momentum. Bitcoin is hovering below its all-time high recorded on May 22nd, with a noticeable lack of upward momentum. Bitfinex assessed that investors' caution is understandable, as the current movement may be just a short-term rebound rather than a substantial bullish continuation. Currently, Bitcoin is trading around $108,560 (approximately 1.507 billion won), with a 2.15% increase over the past week, according to CoinMarketCap data. If Bitcoin's price recovers to its all-time high, approximately $1.63 billion (about 2.265 trillion won) worth of short positions could face liquidation, potentially significantly expanding market volatility. This highlights the simultaneous expectations and wariness among market participants regarding breaking the resistance line. Currently, experts generally view that until Bitcoin secures a clear direction, inflows of buying pressure are likely to remain limited. Unless the technical resistance is broken and supported by a new macroeconomic trend, cautious trading is expected to continue for the time being.