Analysis: $100,000 is a Key Psychological Level for BTC, Traders May Enter a Consolidation Phase After Locking in Profits
Bitcoin has been rising continuously this week. eToro market analyst Josh Gilbert stated that the market has clearly shifted towards a more risk-on tone over the past week, with trade tensions seemingly easing and Trump's indication of willingness to negotiate helping to boost sentiment for risk assets, especially Bitcoin. BTC Markets cryptocurrency analyst Rachael Lucas believes that psychologically significant round numbers like $100,000 often prompt short-term profit-taking, and after traders lock in profits, a consolidation period may follow. (Bloomberg)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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