The growing momentum that fueled Bitcoin’s rally towards $100,000 following the US election is no longer supported by new buying interest from market participants.
“While this does not threaten the mid-term rally, the battle for a break above $100,000 is becoming extremely tight and Bitcoin bulls are losing momentum,” FalconX analysts said.
In their opinion, now even the most insignificant negative news can cause a sharp correction in the value of the first cryptocurrency. A possible fall or break above the psychologically important $100,000 mark could be swift.
Market liquidity has dwindled amid the rally, despite the fact that trading volumes of the first cryptocurrency have been growing over the past few weeks, experts warned.
Earlier, analysts at 10X Research said that the Bitcoin rally is far from over. According to experts, by the end of December the rate of the first cryptocurrency may reach $115,000.
Source: Bits
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