Opinion: $100,000 is a Significant Psychological Barrier for BTC, Traders May Enter a Consolidation Phase After Locking in Profits
On May 11, Bitcoin continued its rise this week. eToro market analyst Josh Gilbert stated that the market has noticeably 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, particularly Bitcoin.
BTC Markets cryptocurrency analyst Rachael Lucas believes that psychologically significant round numbers like $100,000 often prompt short-term profit-taking, and traders locking in profits may lead to a period of consolidation. (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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