💡 Bitcoin hit a pullback after breaking through $100,000, and market sentiment became cautious
This week, Bitcoin hit a record high of $108,000, but then failed to hold the key psychological level of $100,000, and profit-taking exacerbated the decline. The current price of Bitcoin is down 2.4% at $95,133.
🔍 Market observation: Bullish momentum slows down
Pepperstone analyst Chris Weston pointed out: "We need to be cautious about Bitcoin's trend at the moment. This does not mean that the price will plummet immediately, but the momentum is clearly weakening and the bulls are losing control of the market."
📊 Market dynamics interpretation
1️⃣ Loss of psychological barriers:
$100,000 is a key psychological price for Bitcoin, and its failure to maintain it has caused market sentiment to turn to wait-and-see.
2️⃣ Pressure of profit-taking:
Record gains have attracted some investors to lock in profits, and short-term pullbacks are common.
3️⃣ Weakened momentum:
Both volume and price momentum have weakened, indicating that the market has temporarily lost direction and the long and short forces are close to balance.
🌟 Outlook for the future: Looking for opportunities with caution
🔸 Pay attention to the support level: If Bitcoin can hold the $90,000 area, a short-term rebound may form.
🔸 Key to market sentiment: Whether the trading volume can be restored after a breakthrough or a pullback will determine the subsequent trend.
🔸 Long-term logic remains unchanged: Despite the short-term pullback, the macroeconomic environment still supports Bitcoin's potential as a store of value.
👉 Treat volatility rationally and maintain a flexible strategy. Pay attention to market trends and win in stability!
