Bitfinex Analyst: Bitcoin May Have Reached a Local High, Some Traders Start Taking Profits

BlockBeats News, July 1st, according to Cointelegraph, a Bitfinex analyst stated that Bitcoin's nearly three-month upward trend may be losing momentum as buying pressure weakens and more traders start to take profit. In this upward trend, the upward momentum is starting to weaken for the first time.

However, the analyst also warned that based on order flow and on-chain metrics, Bitcoin may be entering a consolidation phase or approaching a local top, rather than continuing its "vertical ascent." Spot trading volume has declined, active buying pressure has weakened, and profit-taking behavior has intensified—especially among those short-term holders who have held since below $80,000.