Experts from Glassnode note a slowdown in the net capital inflow to Bitcoin in recent weeks. At the same time, there is a significant increase in losses among recent cryptocurrency buyers. Analysts suggest that holders of unrealized coins may start selling them in the near future, which could put additional pressure on the market. Against this backdrop, there is a significant overload of speculative interest in Bitcoin.
Forecasts and long-term trends
Glassnode representatives state: «Both in on-chain indicators and perpetual contracts, the period of equilibrium is coming to an end, with the beginning of growth in volatility and trading volume being recorded.» Analysts predict that in the short term, the Bitcoin price is unlikely to exceed $70,000, but the expected increase in volatility may help the asset break out of its current narrow price range.
It is important to note that despite short-term uncertainty, the long-term trend of Bitcoin accumulation by investors remains a positive signal. This contradiction between short-term risks and long-term confidence underscores the complexity and dynamism of the cryptocurrency market.
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