đ Bitcoin Hits $70K, Analysts Issue Caution đ
- 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.
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