Odaily Planet Daily reported that James Check, chief analyst at Glassnode, said that the Bitcoin market is currently in a downturn, and holders and traders are on the sidelines. To reignite market activity, traders need to break through the low range of $60,000. Check pointed out that Bitcoin's seller risk ratio has "entered the low liquidity area far", which means that most Bitcoin transactions in the market will neither bring huge profits nor huge losses.

During the consolidation of Bitcoin prices, experienced traders usually choose to hold off and wait for clearer price signals before taking the next step. Despite the overall downturn in the market, Bitcoin still shows its strong potential and resilience. 📈🚀