Bitcoin (BTC) $99,128.5briefly surpassing $100,000 on Wednesday, shifting investor sentiment from fear to greed. The price continues to move between 90 thousand and 100 thousand dollars.
Bitcoin Price Analysis: It May Take Time to Exceed the 100 Thousand Dollar Threshold
Bitcoin is currently making falling highs after reaching a record high of $108,000 on December 17, drawing an image reminiscent of a seven-month consolidation period in 2024. However, the $90,000 level stands out as a strong support point. Since November 18, 2024, it has fallen below this level only once, on January 13.
markets, Donald TrumpHe considers ‘s oath ceremony on January 20 as a possible turning point. The new president taking office may move the price up or down.
Leverage is Decreasing, Market Turns to Spot Transactions
To understand market sentiment leverage ratiosIt is very important to monitor. Leverage is measured by open interest (OI) in futures trading. According to Coinglass data, open interest has fallen to the low levels of early November 2024. This shows that price movements are less leverage-oriented and more based on spot transactions.
Open positions 700 thousand units on December 19, 2024 BTC It dropped from its level to 621 thousand BTC ($61.6 billion). Analyzing open positions in Bitcoin offers a fairer approach in analyses. Due to the fluctuations in Bitcoin’s price, it may be more feasible to consider the unit quantity rather than the nominal value.
According to experts, Bitcoin may need a few tries to rise above $100,000 again. Investors continue to act cautiously at these critical levels. cryptocurrency marketSensitivity continues to be guided by current economic and political developments.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
