What Triggered Bitcoin's Failure to Break the $100,000 Mark? š¤š
Bitcoin is facing a significant market resistance as it approaches the $100,000 milestone. A $384 million sell wall, equivalent to about 4,000 Bitcoin, is preventing further price growth as investors seek to cash in on profits. Despite growing market enthusiasm, this sell pressure continues to hold Bitcoin below the key six-figure mark.
Analyst Valentin Fournier suggests that Bitcoinās future movement hinges on the market's ability to absorb these large sell orders. If the sell wall is cleared, it could trigger a major rally. However, the balance between market optimism and profit-taking remains a critical factor in Bitcoin's short-term performance.
The cryptocurrency's path forward will depend on evolving market conditions, shifts in investor sentiment, and the resolution of sell pressure. As the market matures, Bitcoin's journey towards new price milestones reflects the growing sophistication of cryptocurrency trading.
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