Bitcoin has surged above $54,000, reaching its highest level in 2 years.
However, some analysts warn investors that Bitcoin may
CryptoOnchain, one of the analysts at CryptoQuant, stated in their latest analysis that BTC could experience a correction in the coming weeks, targeting the $48,000 level.
Pointing out the BTC chart and on-chain data indicating a price correction, the analyst believes this correction may be due to short-term Bitcoin investors selling off.
Bitcoin continues to trade at $54,623 at the time of writing.
On the other hand, it seems that Grayscale has sent $253 million worth of BTC to Coinbase exchange for sale in the past few hours. While analysts predict a small price volatility due to this reason, many believe BTC will rise to $58,000.
