Bitfinex analyst: Bitcoin may have hit local highs, some traders are starting to take profits

BlockBeats news, on July 1st, according to Cointelegraph, Bitfinex analysts stated that Bitcoin's recent three-month uptrend may be losing momentum as buying pressure weakens and more traders begin to take profits. In this round of upward trend, the upward momentum has begun to weaken for the first time. However, analysts also warn that based on order flow and on chain indicators, Bitcoin may be entering a period of volatile consolidation or approaching local highs, rather than continuing to show a 'vertical acceleration'. The spot trading volume has fallen, the pressure to actively buy has weakened, and profit taking behavior has intensified, especially among short-term holders who have held all the way from below $80000 until now.