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
The probability of a Federal Reserve rate cut in September is 89.6%.
Braintree founder Bryan Johnson may collaborate with Stable
Analysis: BTC Price Has Not Yet Shown Selling Pressure
Trending news
MoreCrypto prices
More








