Crypto Analysts Scramble to Explain Bitcoin’s Pause Near $25K

Bitcoin’s (BTC) upswing has come to a screeching halt at a price level that proved to be a tough nut to crack last year.

The leading cryptocurrency picked up a strong bid at the start of the year and has gained nearly 50% since then, outperforming major traditional risk assets. However, the bullish momentum has stalled since Feb. 16, with the cryptocurrency failing multiple times to secure a foothold above the $25,000 mark. The said level offered stiff resistance in August last year, following which the cryptocurrency revisited lows around $18,000.

According to Laurent Kssis, a crypto trading adviser at CEC Capital, a breakout above $25,000 hinges on the performance of technology companies.