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BitcoinSistemi 2024-12-04 18:52:07

Will Bitcoin Break the Critical $100,000 Threshold? Analysts Share the Most Important Challenge and Solution

Bitcoin’s path to the highly anticipated $100,000 milestone faces a critical hurdle: the ability of new buyers to absorb selling pressure from long-term holders (LTH). Analysts from Bitfinex and Copper.co have highlighted key market dynamics that could either support or hinder the largest cryptocurrency’s upward momentum. According to Bitfinex analysts, the supply from short holders (STH) is approaching its all-time high of 3.28 million Bitcoin, a level historically associated with the beginning of bull market peaks. While this signals growing retail interest, it also highlights a challenge: balancing incoming demand with for-profit sales of LTH. Analysts noted that the sustained sell-off from LTHs over the past two weeks, combined with limited spot demand, could trigger a pullback in Bitcoin price. Related News: Turkish Treasury and Finance Minister Speaks About Cryptocurrencies Amid concerns about selling pressure, some analysts remain optimistic about Bitcoin’s outlook, citing the potential impact of ETFs. Fadi Aboualfa, Director of Research at Copper.co, pointed out that ETF inflows are a key demand driver that could counter profit-taking from long-term holders and push BTC toward the $100,000 target. “Every 10,000 BTC added by ETFs has historically increased the price of BTC by 2.2%,” Aboualfa said. He estimated that $1.9 billion inflows into ETFs could buy another 20,000 BTC, potentially pushing the price to $100,000 within weeks. *This is not investment advice. Continue Reading: Will Bitcoin Break the Critical $100,000 Threshold? Analysts Share the Most Important Challenge and Solution

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