#BitcoinMarketObservation 🧐

CoinDesk analyst Omkar Godbole pointed out that if Bitcoin can break through and stabilize above $69,000, it will mark the resumption of the upward trend from the low point in October 2023, and the target price may reach $100,000. The current sideways trend may be an accumulation period (slowly buying) or a distribution period (controlled selling), and the next period may usher in a period of volatility.

In addition, factors such as uncertainty in the US election, rising Treasury yields, and the extension of Mt.Gox repayments to 2025 have led to Bitcoin's recent sluggish performance.

What do you think? Welcome to discuss in the comment section!