Bitcoin Market Not Positioned for Upside Despite Rally Above $80K, Says Bitfinex

Bitcoin (BTC) is currently on a roll, surging past the $80,000 mark and touching base above $81,000. While this rally could be a reason for positive sentiment, market experts believe otherwise.

In a weekly report from the crypto exchange Bitfinex, analysts warned that bitcoin’s rally to $80,000 is misleading because the market is not positioned for upside movement. According to the analysts, BTC is currently stuck between bulls and bears, conviction and caution. Considering market conditions, the leading digital asset is likely to lean toward the negative rather than the positive.