Bitcoin is trading within a tight range, having dropped to around 115,700 USD after briefly hitting 118,640 USD. It has yet to retest previous all-time highs, indicating potential exhaustion in the market.
QCP Capital highlights a muted response to positive news, reflecting late-cycle behavior. Analysts express worries about high leverage in altcoins, warning it could lead to broader market volatility.
The strengthening U.S. Dollar negatively affects Bitcoin’s valuation, with analysts suggesting investors may gravitate towards safer assets amidst these market conditions.
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