Summary
- It was reported that there is an analysis suggesting Bitcoin's upward momentum has weakened.
- Swissblock stated that Bitcoin is trapped in the lower box range, and substantial price movement may occur after liquidations.
- Investors were advised to exercise patience rather than buying.
Swissblock, a cryptocurrency data analytics firm, stated on X (formerly Twitter) that Bitcoin's (BTC) upward trend has stalled, and investors need to exercise patience.
On the 2nd (local time), Swissblock revealed, "Bitcoin failed to break through the $110,000~$111,000 level, and the upward momentum has waned," adding, "It is currently trapped in the lower box range." They continued, "Significant price movement is likely to appear after liquidations," and advised, "Now is the time for investors to have patience, not to buy."
As of 4:49 PM, based on the Binance USDT market, Bitcoin is trading at $105,348, up 1.05% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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