Bitcoin Caught Between Two Price Ranges, Futures Market Poses Risks - Glassnode

Bitcoin Market in a Stalemate

On-chain analysis firm Glassnode released its weekly cryptocurrency market report on the 13th. It currently describes the market as being in the 'end phase of a bear market price range convergence,' a phase that includes the unusual element of bullish futures. Both short-term bullish and bearish scenarios have been presented.

Firstly, market funds are flowing into stocks driven by AI (Artificial Intelligence) brands, and unless some of this capital returns, the record highs in the stock market could also pose significant support or resistance for Bitcoin (BTC).