Bitcoin Market Top Is 'Nowhere Near,' Say Analysts as Price Pauses at $120K
2025-07-14 21:04:54
Main Idea
Analysts suggest Bitcoin's market top is 'nowhere near' as the price pauses at $120K, with some altcoins like XRP, SUI, and UNI showing gains.
Key Points
1. Bitcoin (BTC) price cooled off during U.S. trading hours, slipping below $120,000 but maintaining a 0.6% gain over 24 hours.
2. Ethereum's ether (ETH) slid below $3,000, while other altcoins like Cardano's ADA and Stellar's XLM declined around 2%-3%.
3. Uniswap's UNI outperformed with a 6% gain, and crypto-linked stocks like MicroStrategy (MSTR) and Galaxy (GLXY) remained higher by 3%-4%.
4. Analysts noted that the current rally is not near previous major tops, citing BTC's surge of over 10% in less than a week.
5. Volumes on centralized and decentralized exchanges rose 23% week-over-week, with Bitcoin's rise attributed to excessive demand.
Description
Bitcoin BTC cooled off during U.S. trading hours Monday after nearly topping $123,000 earlier in the session, but market top calls are premature, analysts said. BTC slipped below $120,000 late in the U.S. day, shedding most of its overnight advance, but holding on to a modest 0.6% gain over the past 24 hours. Ethereum's ether ETH slid back below $3,000, while dogecoin DOGE, Cardano's ADA ADA and Stellar's XLM XLM declined around 2%-3% on the day. Among majors, XRP XRP, SUI SUI and Uniswap's UNI ...
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