- Bitcoin broke out of consolidation in the last 24 hours to claim $56,728.
- Santiment brought attention to a bearish factor that could negate the bullish optimism surrounding Bitcoin.
- The analysis pointed to the recent incident involving the BitForex exchange, halting user withdrawals without prior notice.
Santiment, a leading market intelligence firm, has hinted at a bearish signal amidst the prevailing bullish sentiment in the cryptocurrency market. The crypto market regained its optimism as Bitcoin broke out of consolidation in the last 24 hours to claim a new multi-year high.
According to data from market tracking resources, Bitcoin has reached $56,728, up from a 24-hour low of $50,931. Santiment noted that with Bitcoin’s current market position, the asset is barely 20% gain away from breaking the all-time high of the previous bull market attained some 27 months ago.
Moreover, the market intelligence platform highlighted that, at this crucial juncture, trader attention towards BTC is exceptionally high, with altcoins temporarily receiving less focus.
#Bitcoin has now scratched its way to a market value as high as $57,250, reaching within 19.9% …The post Bitcoin Surges Above $56K: Santiment Warns of Potential Bearish Signals appeared first on Coin Edition.