Crypto analysts say about three months of bitcoin rally can lose steam as the pressure weakens and more traders start taking profits.

“For the first time in that uptrend, the speed is fading,” Bitfinex analyst Said In a market report on Monday.

Since bitcoin (BTC) On April 9, its year-by-year of $ 73,273 fell at a low level, it rose by about 41% to $ 107,380 at the time of publication, According For coinmarketcap data.

‘Vertical Acceleration’ is now sides for

However, analysts warned that order flow data and onchain metrics indicated that bitcoin could enter the period of consolidation or reach a local top “instead of the released vertical acceleration”.

He said, “Spot volume has cooled down, the pressure to buy a taker has weakened, and has accelerated to take advantage-especially among short-term holders who ride the step at a sub-$ 80,000 level,” he said.

Analysts say ETFs should continue amidst strong flow streak

Analysts say the next step of bitcoin will depend on the macro factors and the ongoing institutional demand, especially from ETF inflow.

The US-based spot bitcoin ETF has posted Inflow for 14 trading days since June 9, which is a net flow of $ 4.63 billion as of June 27, According For data.

Economist Timothy Peterson described the price of $ 2.2 billion of the previous week as “massive” and is expected to continue this week. “70% chance will be positive next week, which is usually related to pressure from top pressure,” Peterson Said,

Meanwhile, bitcoin traders will closely look at the Federal Reserve’s 30 July interest rate decision, as low rates are usually faster for crypto. The current 19% possibility in the market estimates that Fed will reduce rates in that meeting, According For cme fedwatch tool.

Despite the short -term uncertainty, analysts say the broad market structure remains stronger, the high deadline support level is still holding. “Current data points to a transition phase,” he said.

The uptrend of bitcoin will continue when long -term holders stop selling

Some analysts remain fast. Economist Donald Dean Said“Bitcoin is getting ready to move higher with tight consolidation on the volume shelf.”

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Charles Edwards, the founder of Capriole Investments, recently argued that prolonged holder sales pressure has recently stopped the increase in the price of bitcoin despite the steps of institutions and institutions. Corporation to buy property,

“People are wondering why Bitcoin is stuck at $ 100K, despite the institutional FOMO,” it is mainly due to the Bitcoin OGS-Deenculatory holders-since the “Dumping on Wall Street” and “Unting your positions” since bitcoin exchange-traded funds since.

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There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.