Bitcoin Price Surge Above $78,000 May Be a Bull Trap Warns Crypto Analyst

Crypto analyst Marmot has sounded a warning about Bitcoin's recent price surge above $78,000, cautioning investors and traders not to trust it.

The rebound is reminiscent of a classic distribution pattern, designed to shake out retail traders before a sharp decline occurs, according to Marmot. This pattern would indicate that the rally may be a bull trap, masking deeper weakness underneath.