Bitcoin trades in a predictable range while SOL, LINK, OM and RAY look ready to rally higher.
Bitcoin (BTC) has been relatively quiet over the weekend, indicating that the bulls and the bears are not waging a large bet on a directional move. “The market sees limited upside for the asset in the short term, likely due to the absence of a specific BTC reserve announcement,” said onchain options protocol Derive founder Nick Forster in a Jan. 25 analyst note viewed by Cointelegraph.
A more bullish projection came from CryptoQuant contributor IT Tech, who said in a Jan. 24 analyst note that Bitcoin long-term Bitcoin holders (LTH) — those who have held their Bitcoin for more than 155 days — continued to buy on declines and short-term holders bought during rallies. That makes IT Tech bullish on Bitcoin over the next 12 months.
Crypto market data daily view. Source: Coin360