In the cryptocurrency world, Bitcoin remains above the crucial $100,000 level. However, analysts express concerns about a potential decline in its price.
Can Bitcoin Maintain the $100,000 Support?
Bitcoin has managed to hold its ground above an important psychological level of $100,000 in recent weeks. However, prominent analyst Capo of Crypto warns that the price may temporarily dip to $70,000. He states that significant asset holders are beginning to unload their Bitcoin, which could put pressure on the market. Current institutional acquisitions are reportedly not strong enough to sustain price growth.
Threat from Old Wallets
The recent activation of 80,000 BTC from long-dormant wallets has stirred anxiety among market watchers. These movements, worth over $8.7 billion, raise suspicions about market manipulation and the likelihood of increased selling pressure. Capo links these actions to potential market instability.
Impact of International Politics on Crypto Market
Capo also points to international tensions as a looming threat to Bitcoin's stability. The ongoing dispute between China and Taiwan could lead to distress sales in the cryptocurrency sector. He asserts that if this situation worsens, significant declines in altcoin values could follow.
Given these factors, Bitcoin's trajectory appears precarious, with numerous elements influencing its future. Investors are closely monitoring market dynamics, considering both hidden sales and external geopolitical events.
