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Bitfinex Analyst: Traders Cautious on Buying BTC, Bulls Lack New Catalysts or Clear Macro Signals
Summary: According to reports from Bitfinex, analysts point out that current traders are cautious about buying Bitcoin at current price levels, as the cryptocurrency has failed to effectively break the historical high of $111,970. Bulls appear hesitant or unable to push prices further up without new catalysts or clearer macro signals. Analysts note that while profit-taking ...
According to reports from Bitfinex, analysts point out that current traders are cautious about buying Bitcoin at current price levels, as the cryptocurrency has failed to effectively break the historical high of $111,970. Bulls appear hesitant or unable to push prices further up without new catalysts or clearer macro signals. Analysts note that while profit-taking pressure has eased, lack of buying interest indicates traders are still waiting for direction confirmation. It is worth noting that Santiment data shows Bitcoin social media sentiment at a three-week high, with bullish comments outnumbering bearish ones by 1.51 times. However, analysts from the platform caution that similar high sentiment levels have led to price corrections on June 11 and July 7.
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Link: Bitfinex Analyst: Traders Cautious on Buying BTC, Bulls Lack New Catalysts or Clear Macro Signals [Copy]
