Bitcoin's rally is nearing the monumental $100K mark. This is a pivotal moment for both bulls and bears. Who will take the trophy?
A short-squeeze could be the catalyst needed to push Bitcoin towards the next key level of $110K.hits a new ATH at $93,490, and social media is ablaze with $100K+ price predictions. Historically, hype at peak sentiment often signals caution – savvy traders know that euphoria can mark a top.
It was a pivotal moment – the bulls rallied with conviction, cutting through market skepticism and setting their sights firmly on the legendary $100K milestone. Apart from the volatility driven by miners, the derivative market is also showing a shift in dominance, with high sell orders gaining traction. This is evident from the notable red stick pointing southward.To keep the Bitcoin rally unchallenged, reversing this trend will be crucial. As mentioned earlier, resistance is inevitable with high selling pressure building across various metrics.
As a result, the $100K benchmark seems within reach, with minor pullbacks along the way. What’s interesting now is what happens after the target is reached.Historically, whales tend to go against the crowd, buying when others are fearful and selling when they’re exuberant. Over the past week, whales have accumulated 100K Bitcoin, valued at over $8.60 billion, according to a prominent
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