CandleFocus Why Has The Bitcoin Price Never Surpassed $100,000? Here’s an Analyst’s View
2024-12-02
Author: Content Editor
Bitcoin started the week with a slight drop in price, but quickly recovered. It has been trading between $90,000 and $98,000 for the past two weeks, struggling to break the psychological resistance at $100,000. Analysts suggest that a significant sell wall of over 4,000 Bitcoins worth around $384 million needs to be cleared for further price increases. Broader macroeconomic conditions, such as Federal Reserve rate expectations, are also impacting Bitcoin. Investor sentiment around the Fed's next moves has shifted, with the probability of a rate cut dropping. Investors are monitoring economic reports and Fed officials' speeches for potential impacts on Bitcoin's price.
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