The bitcoin market moved from the stage of euphoria to the cooling stage, investors became more careful in estimates, and the pressure from the sellers is increasing, experts of the supplier of blockchain-data, Glassnode supplier, said.

Demand from large companies and investment funds weakens, the influx of capital in spot bitcoin-ETF It has decreased by almost 25%, activity in the network falls, the volume of translations and commission fees is reduced – despite the growth of the number of active addresses, Glassnode experts drew attention.

According to them, the structure of the market became extremely fragile due to weak demand and growth of investors’ interest in protection against the fall of bitcoin quotations. Any recovery will be short, since there are no fundamental catalysts of rally, analysts say.

In the near future, the first cryptocurrency course will remain within the range of $ 100,000–116,000 with minor fluctuations, representatives of Glassnode believe. However, the potential for the restoration of the crypto is preserved – similar periods were observed in 2016 and 2020, immediately before the start of large -scale bull rally, experts recalled.

The current situation can lay the foundation for the future pulse of bitcoin growth, and the asset is able to update the historical maximum in the long run, and experts summed up Glassnode.

Earlier, the general director of the Vaneck Management Company Jan Van ECK made an optimistic forecast of the bitcoin course and suggested that in the near future the first cryptocurrency would be the main competitor of gold.