Bitcoin spikes to 7-week highs as analyst doubts chances of $100K rebound 📈
Bitcoin traded above seven-week highs, nearing $95,000, igniting speculation but skepticism among traders about reaching $100,000 soon. Analysts highlighted ongoing battles between buy and sell volumes, casting doubts on sustained upward movements.
Despite Bitcoin's strides towards six figures, substantial resistance remains. Traders like Daan Crypto Trades emphasized the significance of current price levels for Bitcoin's broader bull market status.
Others, such as Keith Alan, expressed skepticism, attributing rising prices to possible short squeezes without substantial catalysts. Continued consolidation is anticipated until significant factors drive Bitcoin towards $100,000.
Source: cointelegraph.com ↗
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