Analysts urge caution on BTC rebound, citing lack of catalysts

Although BTC has rebounded to around $69,000, analysis suggests a trend reversal remains uncertain. CoinDesk reported that a short squeeze, driven by fear and an accumulation of short positions after the recent drop, has lifted altcoins and related stocks. The outlet noted, however, a lack of clear fundamental catalysts. Echoing this view, LMAX Group analyst Joel Kruger described the move as a technical rebound in a thin liquidity environment. He added that the rally should be approached with caution given the lack of liquidity. Meanwhile, the market is watching whether BTC can break through resistance at $72,000 and $78,000 as a key inflection point for the trend.