Bitcoin Rally Stalls as Momentum Fails to Ignite, Profit-Taking Rises
Bitcoin's recent attempt to reach $120,000 has stalled, described by Swissblock as a "failed breakout zone." Key insights include:
- Momentum has failed to ignite due to profit-taking.
- 96% of Bitcoin's supply is in profit, creating latent sell pressure.
- Current market conditions favor consolidation rather than directional surges.
- Liquidity is improving but not yet aligned for a sustained price movement.
- Altseason is active but under stress, with only 5% of top altcoins showing positive momentum.
Swissblock notes that while selling pressure is visible, it is not extreme. The firm anticipates Bitcoin might prepare for a breakout if momentum aligns. As of the latest update, Bitcoin is priced at $115,452.
