The post Bitcoin Faces Profit-Taking Phase: Will Traders Seize Altcoin Discounts Amid Price Consolidation? appeared on BitcoinEthereumNews.com.

Investor profit-taking has temporarily dampened Bitcoin’s bullish momentum, ushering in a phase of market consolidation. This market ripple raises questions about whether traders will seize the opportunity to buy altcoins at discounted rates. According to Bitfinex analysts, trends suggest that such profit-taking frequently follows a new all-time high, creating space for future gains. Bitcoin’s profit-taking marks a consolidation phase; are altcoins becoming more attractive? Expert insights into the current crypto landscape revealed. Current Market Dynamics and Bitcoin’s Consolidation Phase Bitcoin’s market structure remains bullish despite the current profit-taking, a common pattern observed whenever the cryptocurrency reaches new highs. At the moment, Bitcoin is struggling below the critical breakout level of $109,588, suggesting that bears are actively defending this key price point. Bitfinex analysts have noted that retracements often precede bullish cycles, indicating that such corrections are necessary for sustainable growth. Investor Sentiment and Future Outlook The latest data from Glassnode highlights a decrease in the relative strength indicator (RSI), hinting at a potential pause in Bitcoin’s upward trajectory. However, industry experts like Keith Alan from Material Indicators remain optimistic, predicting that Bitcoin will find support around the $94,000 mark even if a correction occurs. “It is essential to view any dips as buying opportunities,” Alan states, reinforcing a sentiment that many traders share. Bitcoin Price Prediction: Key Levels to Monitor The failure of Bitcoin to sustain above the $109,588 level may incite short-term traders to consider selling. The bears are expected to attempt to drag prices towards the 20-day exponential moving average (EMA) at $105,453, a crucial support level. A robust rebound from this EMA would signal that traders are actively buying on dips, perhaps setting the stage for a retest of $111,980. Potential Bullish Scenarios A break above and a successful close price over $111,980 could pave the way…

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Filed under: News - @ May 28, 2025 11:29 pm