Bitcoin Steady at $10,800, Why do Analysts Think BTC is Still on Thin Ice?5

Unlike previous weekends in this uptrend, Bitcoin (BTC) was rather mild on Saturday night and Sunday. As of the time of writing this, BTC has found itself trading for $10,800 — down 5% from year-to-date highs, but up 1% in the past 24 hours. Simultaneously, altcoins have begun to slip, selling off against the market leader as investors flood to large caps.

With this lack of immediate bullish continuation, some analysts have begun to fear that Bitcoin may, at least for the time being, be susceptible to a rapid drawdown. This is reminiscent of when BTC hit $9,100 in late-May, which was a move that sparked concerns of a retracement.

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