Bitcoin needs a fresh catalyst to avoid a ‘deeper correction’ — Analysts
Bitcoin will need something new and shiny to drive it to fresh highs, as some analysts warn the asset could face a volatile month ahead.
Bitcoin may struggle to sustain its upward trend unless something triggers more excitement among investors, according to Glassnode.
“Without a renewed catalyst to lift prices back above $117.1k, the market risks deeper contraction toward the lower boundary of this range,” Glassnode said in a report published on Wednesday.
Bitcoin (BTC) is trading at around 5% below the $117,000 level, trading at $110,840 at the time of publication, according to CoinMarketCap.
