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
Cathie Wood Takes ARK Venture Fund Onchain With Securitize
Litecoin Hits 8-Month High as ETF Holdings Set Record — Can Bulls Clear $75?
University of Michigan September Consumer Sentiment Index falls to a four-month low, inflation expectations for the next year rise to 4.6%
The final value of the US Michigan Consumer Sentiment Index for September dropped to 48.1, reaching a four-month low. Consumers expect inflation over the next year to be 4.6%, higher than last month's 4%. The expected annualized inflation rate for the next 5 to 10 years is 3.4%, the highest level since May. US gasoline and diesel prices have climbed, and mortgage rates have surpassed 7%. According to the survey leader, despite political differences, consumers unanimously believe the economic outlook has worsened.
US Stock Market Movement | Computing Power Bottleneck Gradually Emerges, Meta (META.US) Drops Over 3%
On Friday, Meta (META.US) opened lower and continued to fall, with a decline of over 3% as of press time, and a market capitalization of approximately $1.92 trillion.
Crypto prices
More
