Short-Term Traders Responsible for Ranging Bitcoin Price, Says Analyst

As the price of Bitcoin remains stuck between $5,500 and $8,500 for three months now, the Bitcoin trading community wonders when the spell will break and in which direction.
Kevin Lu, the director of quantitative research at Element Digital Asset Management, a full-service advisor for the digital asset economy, said the Bitcoin market is in a reflexive state and its range trading is due to being dominated by short-term market participants.
Boring Bitcoin Market Stuck Between Day T