This morning, Bitcoin has finally reached the $100,000 levelāa milestone many have been anticipating for years. What can we expect now?
This possibility wasnāt off the table. As I mentioned earlier, it didnāt really matter if it grabbed liquidity at $100k or not. If the sentiment was already very bullish before, it has now reached extreme levels. It has attracted a lot of attention and is literally being featured on all mainstream media right now. Even world leaders are joining the excitement, with one president sharing screenshots of his profits. While this is good in the medium and long term, in the short term it could be another warning sign. Tops are always formed during times of extreme euphoria and when retail investors flood the market. Many people are expecting much higher, without even considering the possibility of a correction.
The key now will be whether BTC drops back below $100k, signaling a deviation. Altcoins havenāt followed this time, which could be an early sign of weakness. Funding rates are extremely high and need a reset, which can only be achieved with a strong pullback.
At the moment, Iām expecting an initial pullback to $89kā$91k, with altcoins dropping 10%ā30%. If those levels hold, we could see a bounce from there, and some altcoins reaching new swing highs (there could be some short-term opportunities, I'll keep track of them), while BTC forms its first lower high. After that, the correction should extend much lower.
So, once again, keep calm and do NOT FOMO here.
#BTC100K! #CryptoHistoricMoment #XRPTrends #Share1BNBDaily #BinanceSquareFamily
