Recent fluctuations in Bitcoin continue to garner interest against the backdrop of sweeping market changes. Let's examine the current status of the cryptocurrency amidst global trends.
Minor Pullback of Bitcoin
Bitcoin recently experienced a $90 billion pullback, which is considered minor in the face of the broader deleveraging cycle. This could potentially indicate that the next upward movement may arrive sooner than the market expects.
Path to $100k
Despite market consensus, the path to $100k appears increasingly likely following recent movements. Since February 19, the U.S. stock market has lost $11 trillion in market cap, significantly exceeding the 5.17% correction Bitcoin has faced. This increasing divergence from risk assets strengthens Bitcoin’s long-term positioning.
Bitcoin's Haven Status
To trigger FOMO, Bitcoin must break resistance at the $85k-$87k range, a critical zone where profit-taking intensifies. Since early March, whale cohorts have aggressively accumulated, driving holdings to a three-month high. This reinforces Bitcoin's status as a hedge against market turbulence.
Bitcoin continues to hold strong even as other assets lose ground. If demand remains firm, the path to six-figure price discovery looks promising.
