Bitcoin may consolidate amid active profit-taking — U.Today

The price of Bitcoin has slowed its growth, holding slightly above the $100,000 mark. As a result, investors are becoming more active in taking profits. Against this backdrop, Glassnode warns of the growing risks of BTC consolidation.

Over the past week, Bitcoin rose from a low of $93,000 to over $105,000. According to U.Today, this impressive rally has sparked a wave of new demand for the coin.

While the overall cryptocurrency market remains in an uptrend, the growth of its major assets is slowing down. Experts attribute this to a shift in market sentiment toward riskier coins.

As the upward momentum gradually weakens, strong selling pressure from investors looking to take profits has surpassed the influence of new market participants. In this regard, U.Today considers the short- and medium-term prospects of Bitcoin to be uncertain. The bullish trend is also constrained by the low activity of momentum buyers, according to the portal's analysts.

At the same time, experts point to the likelihood of renewed growth as institutional investors keep accumulating BTC.