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Bitcoin rally shows signs of fatigue
CoinDesk·
The recent Bitcoin rally is exhibiting signs of fatigue, with key indicators suggesting potential short-term downside. Cooling U.S. institutional demand, evidenced by a negative Coinbase premium index, and sustained heavy long positioning by a major Bitfinex whale point to a possible pullback. Bitcoin's failure to reclaim the short-term holder realized price further supports this bearish outlook. With the Bitcoin conference underway, historical patterns suggest that rallies often stall or reverse during such events, increasing the likelihood of consolidation or a price decline in the immediate future.
Tickers
$BTC-USD
Tags
crypto
macro
Original Source
CoinDesk — coindesk.com