Analyst: Profit-taking and massive selling hinder recent Bitcoin price increase
Analysts say that due to profit-taking and massive selling hindering the rise of Bitcoin's price, BRN analyst Valentin Fournier emphasizes that Bitcoin faces significant obstacles in breaking through $100,000. He believes that despite strong market catalysts and increasing investor confidence, Bitcoin is still struggling to break through the psychological barrier of $100,000. The phenomenon of profit-taking is evident, and it would require clearing a sell wall of over 4,000 Bitcoins (worth approximately $384 million) to achieve higher price levels. (TheBlock)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Today's Fear and Greed Index is 73, the level remains at greed
The Sui ecological token generally rises, DEEP increases by more than 30% in 24 hours