Bitcoin’s consolidation around $60,000 has investors sidelined, with a new price range needed to spark activity, according to an analyst.
Bitcoin (BTC) holders are stuck in a lull, and traders need a breakout from the low $60,000 range to reignite activity, according to a crypto analyst.
“Investors demand a new price range to re-awaken supply,” Glassnode lead analyst James Check opined in an Oct. 9 X post, noting that Bitcoin’s sell-side risk ratio is trading “well into the low liquidity zone.”
Bitcoin sell-side risk ratio. Source: X/Checkmate
