Bitcoin Price Rally Shows Signs of Losing Momentum as Traders Increase Profit-Taking, Bitfinex Analysts Warn

Bitfinex analysts highlighted a potential deceleration in Bitcoin’s price momentum following a robust three-month rally, as reported by Cointelegraph on July 1st. The analysis indicates a noticeable decline in buying pressure, signaling that the market’s upward trajectory may be losing its previous strength. This shift suggests that traders are increasingly engaging in profit-taking activities, which could temper further price advances.

Further examination of order flow and on-chain metrics reveals that Bitcoin might be entering a phase of consolidation or nearing a local peak, rather than sustaining rapid acceleration. The reduction in spot trading volume and diminished active buying underscore a more cautious market sentiment. This trend is particularly evident among short-term holders who acquired Bitcoin below the $80,000 threshold, now opting to realize gains amid evolving market dynamics.

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