Viewpoint: $100,000 is an important psychological barrier for BTC. Traders may face a period of consolidation after locking in profits

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On May 11, Bitcoin continued to rise this week. eToro market analyst Josh Gilbert stated that the market has clearly shifted towards a more risk-tolerant tone over the past week, with trade tensions seemingly easing. Trump's indication of willingness to negotiate has helped boost sentiment for risk assets, especially Bitcoin.

BTC Markets crypto analyst Rachael Lucas believes that psychologically significant round numbers like $100,000 typically prompt short-term profit-taking, and traders may face a consolidation period after locking in profits. (Bloomberg) https://www.bloomberg.com/news/articles/2025-05-08/bitcoin-btc-price-nears-100-000-and-ether-surges-on-easing-trade-fears

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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