Last night I accidentally fell asleep and forgot to submit my homework. This morning I saw that BTC has dropped a bit again, and many friends are asking why it just can't reach 100,000. After all, 100,000 is a psychological barrier. It's just a step away, so why can't we get over it? To be honest, I don't know the reason either. From the current trend, data, or information perspective, I haven't seen any negative situations to influence it. In other words, #BTC is still dominated by emotional factors. On the contrary, many listed companies have started to allocate BTC as reserves or financial investments, which is good for BTC.
On the contrary, recently many listed companies have started to allocate BTC as reserves or financial investments. This is definitely a good thing for BTC itself. Of course, some friends may ask, including why the BTC purchased by MSTR has not increased in price, could it be due to excessive selling? I looked into it briefly, and it seems that these companies purchasing BTC may not all be buying in the secondary market, especially in the case of MSTR, which bought 55,000 #Bitcoin at once; at least some of it was purchased OTC, so the market price is not significantly affected.
This morning I quickly went through the recent news, and indeed there are no issues. The election sentiment is still present, and even this morning, Fed's Kashkari stated that considering a rate cut in December is still appropriate. The new Treasury Secretary nominee also made some proposals to cut federal spending. These are all good progress, and I haven't found any factors that could lead to a market downturn, so let's watch for now. It’s possible that the FOMO sentiment is decreasing. The data from Monday's spot ETF can reveal a bit. The capital data hasn’t come out yet, so let’s talk about it later.
In fact, for BTC, breaking through 100,000 is no longer in doubt; it's just a matter of time. Be a little more patient.
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