BTC rally stalled near $100,000 as traders assess whether'Trump trade 'is excessive
2024-11-25 06:58:56
According to a Bloomberg analysis, Bitcoin's rally has stalled near $100,000, in part because traders are assessing whether the optimism generated by Trump's support for cryptocurrencies has become excessive. Matt Maley, chief market strategist at Miller Tabak + Co, said investors are concerned that Bitcoin "has to take a break now because it has basically tested the level of $100,000," adding that bullish sentiment around Bitcoin "is becoming extreme." Moreover, the market believes that while Trump has promised to implement more friendly regulations and to establish a national bitcoin reserve, the implementation timeline and viability of the bitcoin reserve are still up in the air.
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