Bitcoin (BTC) has been trading in a narrow range and failing to surpass $100,000 due to a decline in activity on the Bitcoin network. A crypto analyst noted that a "death cross" has formed between Bitcoin's 30-day moving average and 365-day moving average, indicating a slowdown in market activity. This suggests a decrease in trading and participation on the network in the short term. The decline in active addresses on the network has also impacted the daily transaction count, reinforcing the likelihood of market stagnation. However, Bitcoin's moving average convergence divergence (MACD) hints at a potential break above resistance, indicating bullish momentum. If Bitcoin successfully breaks above the $102,722 resistance level, it could surge to its all-time high of $108,230, but a failed attempt could lead to a drop in price.



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