Bitfinex analysts say declining Bitcoin spot volume may indicate a “local top” but all eyes will be on the performance of spot Bitcoin ETFs this week.
Bitcoin’s nearly three-month rally may be losing steam as buying pressure weakens and more traders start taking profits, crypto analysts say.
“For the first time in that uptrend, momentum has begun to fade,” Bitfinex analysts said in a markets report on Monday.
Since Bitcoin (BTC) fell to its year-to-date low of $73,273 on April 9, it has surged almost 41% to $107,380 at the time of publication, according to CoinMarketCap data.
