In the coming weeks, the dynamics $BTC will depend on the parameters of liquidity and the intensity of sales on the exchanges, experts believe.
"Without the price exceeding $95,000, the continuation of the bottom formation is likely, gravitating towards the level of $81,300, unless a new macroeconomic shock occurs," Glassnode explained.
The current situation in the market creates risks for cryptocurrency buyers and marks a transition from a phase of euphoria to a period of increased stress and uncertainty. Investors find it harder to 'bear' unrealized losses, which increases the likelihood of their fixation, analysts noted.
According to experts, the indecisiveness of players puts strong pressure on the asset, and a new wave of liquidity and demand will be required to restore confidence. The volatility of the asset will remain within existing limits, and the probability of continued sideways dynamics of Bitcoin's price remains the dominant scenario. Without unexpected growth catalysts, the cryptocurrency is unlikely to overcome $100,000 by the end of the year, Glassnode concluded.
Earlier, specialists from Wintermute stated that the cryptocurrency market has entered a consolidation phase. Trading activity on major exchanges has significantly narrowed, concentrating mainly on the first cryptocurrency.
