🚀 Bitcoin Hits $70K, Analysts Issue Caution 🚀

- Bitcoin briefly touched $70,000 on Monday morning, a level not seen since June 7, before dipping below $67,000 by afternoon.

- Bitfinex analysts caution that the rally might be short-lived due to an impending options expiry of $2.2 billion on Aug. 2.

- They predict "potential further downward pressure" and suggest avoiding leveraged trades as the market may experience a short-term decline.

- Despite this, Bitcoin is in a higher timeframe uptrend, gaining over 15% in July and hitting a new record with $19 billion in year-to-date inflows.

💬 What are your thoughts on Bitcoin's future? Share in the comments! 💬