Bitcoin Nears $100K as Veteran Investor Cashes Out, Is a Market Trap Ahead?

• Seasoned investor Doctor Profit secures gains, selling BTC at $90K-$102K, warning traders against blindly chasing momentum.
• Bitcoin tests $94,382 resistance, with strong support at $85K-$88K, signaling a bullish trend toward the $100K milestone.
• The U.S. government’s 200K BTC holdings spark speculation, as traders watch for potential sell-offs or regulatory impacts.

Doctor Profit, a seasoned Bitcoin investor, has started offloading half of his holdings bought at $16,000. He set sell orders between $90,000 and $102,000, securing substantial gains. He warned retail traders about falling into the hype of Bitcoin reserve news , predicting a potential market trap. According to his strategy, smart investors sell into strength while others chase momentum blindly. 

Source: Doctor Profit

Bitcoin Surges to $90K, Testing Key Resistance Levels

Following its late 2022 bottom at $16,000, Bitcoin has demonstrated significant upward momentum. There has been an increase in prices over the last two years, surpassing $90,000. The latest technical indicators suggest Bitcoin is testing critical resistance levels near $94,382. If Bitcoin sustains support above $88,000, a breakout could push prices toward the $100,000 psychological barrier.

Besides, a bullish trend has been shown by the higher lows that Bitcoin has been making. Bitcoin’s price has recovered from a solid support zone between $85,000 and $88,000, according to the analysis.

This range has seen buying pressure, preventing sharp declines. Furthermore, another key support lies at $78,000, where Bitcoin previously recovered after a sharp dip. These factors indicate that strong liquidity pools are supporting the uptrend.

Source: Crypto Fella

US Government Holds 200,000 BTC Amid Market Moves

According to reports by Crypto Fella, the U.S. government presently owns around 200,000 Bitcoin, which is worth about $16.92 billion. As traders make predictions about potential sell-offs or regulatory actions, this enormous reserve may have an impact on market movements.

Furthermore, because of the recent volatility of Bitcoin, traders have been on edge. Brief price variations have been seen in the market, along with sharp swings. For Bitcoin’s next move, the resistance level at $94,382 is still a critical test. Bitcoin may soon attempt to reach new heights if buyers keep up their momentum.