Bitcoin has reached the 98,000 position, when will we see 100,000 above?
1. News
1. Institutional Data
From the perspective of institutions, this round of market rally has rapidly risen and is approaching the 100,000 threshold closely associated with MicroStrategy. The continuous price increase is likely to trigger imitation by other listed companies, making it more probable for the market to continue rising. BlackRock's recent buying and selling situation is significantly influenced by purchases from MicroStrategy.
2. Market Sentiment
From the recent market sentiment, it’s all about mindless buying every day, making profits. The most troubled are the three major exchanges, which are losing every day. However, the current market situation is beyond their control, so once the market starts to decline, it will definitely plunge, and the exchanges will certainly try to recover the losses.
3. Liquidation Intensity
From the market perspective, when breaking above 100,000 compared to breaking below 97,000, the strength of the bears above is greater. However, in terms of market participation and funding, bulls still hold a stronger position.
4. The True Strategy behind Bitcoin's Rise
The bullish strategy will continue, and prices will keep rising. Thus, the overall market's bullish sentiment will also persist, but the capital needed for this rise is enormous, requiring more listed companies to participate. Now, it has become a capital game where we retail investors have little influence.