Analyst: Profit-taking and massive selling hinder recent Bitcoin price increase
Analysts say that due to profit-taking and massive selling hindering the rise of Bitcoin's price, BRN analyst Valentin Fournier emphasizes that Bitcoin faces significant obstacles in breaking through $100,000. He believes that despite strong market catalysts and increasing investor confidence, Bitcoin is still struggling to break through the psychological barrier of $100,000. The phenomenon of profit-taking is evident, and it would require clearing a sell wall of over 4,000 Bitcoins (worth approximately $384 million) to achieve higher price levels. (TheBlock)
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