Bitcoin needs a fresh catalyst to avoid a ‘deeper correction’ — Analysts

Bitcoin will need something new and shiny to drive it to fresh highs, as some analysts warn the asset could face a volatile month ahead.

Bitcoin may struggle to sustain its upward trend unless something triggers more excitement among investors, according to Glassnode.

“Without a renewed catalyst to lift prices back above $117.1k, the market risks deeper contraction toward the lower boundary of this range,” Glassnode said in a report published on Wednesday. 

Bitcoin (BTC) is trading at around 5% below the $117,000 level, trading at $110,840 at the time of publication, according to CoinMarketCap.

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