Bitcoin’s Post-ATH Struggles: Slow Climb Back Expected
Bitcoin’s recent price dip, amid growing macroeconomic concerns, may not lead to an immediate surge back to its January peak of $109,000, according to a market analyst.
The analyst, XBTManager from CryptoQuant, believes that the cryptocurrency is currently in a pullback phase after hitting its all-time high and is likely to remain in consolidation mode for an extended period due to liquidity constraints.
XBTManager suggests that Bitcoin’s long positions will only become viable once long-term holders begin to buy again, especially after short-term holders start to sell. For now, they caution traders to be cautious and avoid high-risk trades over the coming months.
Looking back at the events surrounding Bitcoin’s surge to $109,000 in January, XBTManager pointed out that a shift occurred in the market. Short-term holders began increasing their supply while long-term holders started selling off their holdings, contributing to a drop in long-term holder supply.
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This trend continued throughout the year, with significant decreases in long-term holder supply, particularly around the $100,000 mark in December.
Bitcoin’s price recently dipped below $100,000 once again in February, amid concerns of a potential trade war and new US tariffs under the Trump administration. This uncertainty caused Bitcoin to fall even further to the $85,000 range, with fears exacerbated by broader market conditions. As of the latest market data, Bitcoin is priced around $87,100.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
