BTC now remains structurally unstable and fragile, say analysts

Bitcoin (BTC) is holding steady at around the $105,000 level but remains structurally unstable and vulnerable, The Block reported, citing analysts. Kay Lu, CEO of HashKey Eco Labs, noted that BTC is now trading within a "delicate" zone surrounding key supports, and it could only take one bearish news event to trigger panic dumpings. Dominick John, an analyst at crypto-centric quantitative trading firm Kronos Research, also stated that the market remains in a wait-and-see sentiment, with the Crypto Fear & Greed Index standing at 55. Besides, analysts reckon that the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI), which are slated to be released later this week, will determine the near-term direction of the market.