Itaú Flags Undefined Medium-Term Trend for Bitcoin, Altcoins Despite August Rally

Itaú BBA reports that the medium-term trend for major cryptocurrencies remains undefined despite recent price recovery, attributing August gains largely to a short squeeze rather than sustained demand. The bank notes bitcoin, ether, XRP, and solana still face key resistance levels to confirm a bullish trend. This suggests cautious positioning among institutional investors, with potential for volatility if resistances are not broken.