Bitcoin remains stalled below its early-February resistance level, trading at approximately $71,200 and ether (ETH) at $2,185. Despite a positive shift from the recent US-Iran ceasefire, market sentiment has not shifted significantly, resulting in an impasse for analysts on future directions.
Mike McGlone of Bloomberg warns that BTC must surpass $75,000 to avoid a potential crash down to $10,000. In contrast, Tom Lee from Fundstrat suggests stability with his statement on Wednesday that the “bottom is in,” although it’s pertinent to mention his fund holds $10.4 billion in ETH.
Since midnight UTC, BTC has seen a marginal increase of around 0.3%, while ETH remains steady after outperforming the broader market earlier in the week. The focus now turns to whether this current stagnation will serve as a springboard for growth or lead into further volatility.