Analysis: Bitcoin falls after hitting record high, raising questions about momentum sustainability

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PANews
07-17
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PANews reported on July 17 that according to Jinshi, data shows that the cryptocurrency Ethereum has outperformed its more well-known counterpart Bitcoin, rising to a 6-month high of $3,478.97. David Morrison, an analyst at financial technology company Trade Nation, stated in a report that Bitcoin showed signs of pullback and consolidation after reaching a historical high of $123,153 on Monday. He pointed out that traders hoping to profit from further Bitcoin appreciation are frustrated that Bitcoin has failed to rise above $120,000. This "raises the question of whether Bitcoin's upward momentum can be sustained without a new catalyst".

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