Analysis: Bitcoin won't stay around $100,000 for long, will seek further gains
2024-12-05 08:05:39
"BTC is still a meme asset, and market psychology tends to capture the attention of a wider audience, attracting new market participants and changing the views of existing players, which creates further volatility and potential upside, so it is unlikely to see excessive consolidation around the 100,000 dollar," said Nick Forster, founder and cryptocurrency analyst at Derive. Cryptocurrency trader Matthew Hyland echoed a similar sentiment, saying that Bitcoin is expected to rise to the $114,000 price level. According to CoinGlass data, if Bitcoin falls back below $100,000, it is expected that there will be long positions of 1.54 billion dollars at risk of being liquidated.
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