Bitcoin, the leading cryptocurrency by market capitalization, seems to have entered a phase of consolidation above the $30,000 mark following a notable surge of over 10% on Tuesday.
While the price movement has generated a lot of interest among investors, it remains uncertain whether Bitcoin will maintain its upward momentum or experience a pullback in the coming days.
Bitcoin Uncertain Trajectory
Ben Lilly, a well-known cryptocurrency analyst, and economist, recently shared his thoughts on the current state of Bitcoin’s price action and its potential future trajectory.
In a recent analysis, Lilly dubbed the current price movement the “Larry Fink Pump,” referencing the recent announcement by BlackRock’s CEO Larry Fink regarding the company’s increased interest and application for a Bitcoin spot ETF.
While the pump has caused some excitement among investors, Lilly notes that several factors could cause the rally to falter.
For one, Bitcoin has already wiped out the rem
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