Bitcoin (BTC) is up 42% since the start of 2023, but short term, the outlook may now favor the bears.
The latest data paints a problematic picture for BTC price action — investors are greedy, but the mainstream is far from ready to buy.
After January’s 40% surge, BTC/USD is having trouble reaching for resistance higher up the chart.
As Cointelegraph reported, the pair spent the whole of February simply consolidating its prior gains, making it likely the least volatile month on record.
Judging by current moves, however, that consolidatory phase may soon be over — but not work out in bulls’ favor.
Cointelegraph takes a look at three issues that Bitcoin is currently contending with which have the potential to remain a thorn in the side of the bull run.
Bitcoin hodlers feel the greed
Crypto market sentiment received a serious, if unexpected, boost at the start of the year as Bitcoin and altcoins began trending higher.
By the middle of the month, the mood had completely changed versus Q4 2022 — and monitoring tools were quick to show it.
As BTC/USD reclaimed and held $20,000,
