Bitcoin’s Push Toward $100,000 Runs Into a Wall of Resistance
- Digital asset was within $300 of six figures before retreating
- Traders are placing bets on Ether, XRP amid rising volatility
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Bitcoin bulls are starting to express some doubts after what seemed like an inevitable march toward a record high price of $100,000 loses momentum.
“While we’re seeing strong institutional buying pressure, particularly from entities like MicroStrategy’s continued accumulation strategy, the broader crypto ecosystem is experiencing a diversification of capital flows from both institutional and non-institutional participants,” said Chris Newhouse, director of research at Cumberland Labs.