Bitcoin Pulls Back After Hitting All-Time High, Raising Questions About Momentum Sustainability

According to Jinse Finance, data shows that the cryptocurrency Ethereum has outperformed its more well-known counterpart Bitcoin, rising to a six-month high of $3,478.97. David Morrison, an analyst at fintech company Trade Nation, stated in a report that after Bitcoin hit an all-time high of $123,153 on Monday, it has shown signs of a pullback and consolidation. He pointed out that traders hoping to profit from further gains in Bitcoin are frustrated by its failure to climb back above $120,000. This “raises the question: without new catalysts, can Bitcoin’s upward momentum be sustained?”