Bitcoin Surpasses Realized Price Of Recent Buyers — Rally Incoming Or Double Top? 📈
Recent price action has pushed Bitcoin above $91,000, sparking discussions among analysts about its sustainability or if it's a setup for a major pullback. With the US reducing tariffs on China, both equity and crypto markets have reacted positively. Bitcoin's performance reaches levels not seen since March, igniting hopes for a future $100,000 marker.
However, CryptoQuant contributor Avocado_onchain advises caution, emphasizing the behavior of short-term holders who often take profits during rallies. Concerns of a potential double top formation, similar to the one seen in 2021, are echoed. Meanwhile, macroeconomic factors, like US-China tariff tensions, may continue to influence Bitcoin's momentum.
Analyst Xanrox warns of a possible whale-driven trap that may lure retail investors before a potential downturn. Bitcoin is currently valued at $93,754, rising 5.6% over the last 24 hours.
Source: www.newsbtc.com ↗
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