So, looking back, the last two times bitcoin hit over $100k, we saw some serious pullbacks right after. First, it dropped to around $91,500 before bouncing back up past $109,000, which was the all-time high at that point. When it dipped again, it was a pretty big drop since there wasn't much support at $100k. But this time feels different since bitcoin hasn’t really dropped below $100k yet.
What are your thoughts on this?
Also, bitcoin spiked above $107k yesterday, and a lot of folks seemed to cash out, but now with it almost dipping to $101,900, people aren’t selling. Historically, before it hits $100k, it tends to bounce back up.
Well, not yet. I'm not saying it necessarily has to fall below $100K, but just because it didn't this time doesn't mean it won't.
It looks like the price is approaching the ath and when it gets close there are pull backs for massive sell orders and shorts with support above $100K as you say.
Actually, now people have understood what the future of Bitcoin is. I saw many people thinking that Bitcoin will reach 150 thousand dollars this year.
So maybe people did not sell Bitcoin even after its price dropped to 101 thousand dollars today. But I went to coinmarketcap and saw that its price is now 103 thousand dollars. Although it is lower than yesterday.
No doubt that Bitcoin has done so well in recent months. It's impressive to move from $74k+ to $107k+ in that short time. Notwithstanding, I do not see it going farther as much, and I've been saying that since last week. There's no magic here, it got to the recent peak with a huge overbought condition on the weekly chart, so it must obey the "law of gravity" and market dynamism sooner or later, which will not let it preserve the $100k for long, even if it will later achieve that, but I don't think it's now.
I completely agree with you and also bear market will still later come which could make bitcoin go down to $46000/$49000. I may be wrong but I think for bitcoin to fall below $100000 for now will be hard but if possible it falls below, some people will see it as an opportunity to buy below $100000 and which can drive the price up not long after.
What I speculate is that bitcoin is going to ATH and not necessary now for it not to be too fast.
I'm not sure there would be anyone so naive to want to sell his bitcoins right now. From what we can see In the market, bitcoin is ready to continue it's bullish momentum from where it stoped months ago. This has been the fastest bitcoin momentum in history. Usually it takes years for bitcoin to pick back up after a significant retracment but now we seeing something very different. For me I won't advice anyone selling because in less than 2 months BTC is going to create many new Ath and more take profits for those who wants to.
Naive? Nah, almost everyone selling now would be closing a good deal. Depending on if (when?) the ATH hits and how high it'll be, it might not end up being so attractive for many to wait, or if they can even catch it. Was it $73k not a month ago? That's 40% and some for anyone who longed there. Not bad for a month...
Naive is thinking there's a certainty to a new, super ATH. Might very well happen, but a fallback and then the downtrend part of the cycle could begin again. Naive is thinking you'll get ahead when you time things. Simply have a target and stick to it, that's all (be it an exit price or an exit date).
In general Bitcoin have already gone through all the possible pull back that can affect it price and for now arriving at $100000 and above is somewhat a stable benchmark for Bitcoin that alot of liquidity is available to make sure Bitcoin remains highly stable with in this price zone.
If you look at bitcoin historical trend then this movement shouldnt be regarded as something too huge in fact it simply shows bitcoin has been following the past trend, what we experienced this year was a correction that was necessary due to the way the hype around the US election causing it to reach multiple ATH then, the correction was just simply too long because of the economic crisis (tariff war) but generally pull ups from corrections are usually fast and thats why when it started we did a 20% in one month but still nothing strange is happening.
As for those selling there is absolutely nothing wrong because to me most of them might be taking profit with their profit target been reached already and there is nothing wrong sticking to your target even if there is signs of pull still it only keep you away from unnecessary risk.
For me I have started this before if bitcoin touches $100k twice without falling below it then it might be the primary support, as at now bitcoin support is $100k which base on my analysis the market is going for the resistance at the ATH, yesterday it broke the $107k resistance which was the last one before the ATH one and briefly pull back due to more sell volume there, I think this continuous consolidation now will only make the market attempt to break the $107k again and if it did successfully a new ATH is imminent
For anyone that buy bitcoin at a low price, the person can sell right now but I still think what Hatchy said is not wrong. The bear market is getting close but we have not arrived at that yet and we are still going to get to ATH. What he posted is actually not about someone selling bitcoin now knowing what he is doing but about his strong speculation about where bitcoin price will move to which is up direction.
Anyone that witnessed the recent ATH of 109k and experienced the dip to $74k wouldn't sell at $107k, because they know that bitcoin price will still create a new ATH. However, the dip scared out a lot of weak hands to the point that they sold in panic. Looks like people holding now are not in a rush to sell. I have also observed it that after bitcoin price went above $100k this time, it hasn't dip below $100k.
When Bitcoin spiked above $107,000 yesterday, you are suggesting that people would have sold and keep their money in flat by now? Will you call such action a smart one or a big financial mistake? For me, I feel it is a financial mistake because Bitcoin is just gearing up for bigger moves and selling now should be out of every investor's plan instead, buying more should be. Buying now and waiting for Bitcoin to make a new ATH is what I will consider a smart move.
Is selling when the price hike a bit new? I did not see when the price got up to $107K (it did) but according to what i saw early today, Bitcoin was around $102K, which means there was a little selling, only that it wasn't much that should drag the price below the $100K mark. The current price is $104K, a good price movement to begin a new ATH, all the retracement is a push for us to cross $109K without a rush.
This time that the price is above $100k support again, I think there's going to be a change, different from how it happened the last months, the market was pumping the week before last and some persons here was of the opinion that Bitcoin was going to reach or go above the $109k all time high, but the speed of pumping dropped a bit until yesterday that the price got to $107k. What I think is that, before price will dip to $91k, it will surge above the $109k first because I feel that that's what buyers wants to archive, to push the price above the previous ATH. That night happened before the end of this month.
It's just psychology at work. Bitcoin is worth more than $100k just that people see it as a round long expected number so there's a bunch of people willing to sell every time we go past it.
There's also a bunch ready to bet on the price not going to a new high and staying here for longer. It's just a matter of time before the sellers get exhausted. You can already see it happening as we get higher highs and higher lows for weeks.
People need to get used to a level, start treating it like something normal, just like they did with $20k and then $60k, but it takes time.
That should be the way to support it, that will end up with make a lot of sense for the people who are holding it as much as we can. If you can gather whatever you want that would make sense to get the greater one. We are managing to stay above 100k, and if we do our best then we can get a great result, because staying above 100k like this, means that it is not going down, and when the market realizes it is not going down they are going to end up making some profit without a doubt.
This is why it is going to mean a lot to stay above 100k, it would indicate an upwards movement is coming. If we crack under though, then I would guess it would bottom at near 90k levels before it stops and that's going to be tough for us to take time and recover over 100k again.
I think that Bitcoin will not get to 150 thousand dollars this year. It is just me not wanting to be overly optimistic. I know there is a possibility - a very tiny little one if one extraordinary event should happen.
But I am confident that even if it doesn't get to 150 thousand dollars this year it will stabilize at around 100 thousand dollars. At this time where is has past that 100 thousand dollars and is moving up and down, it will not go below.
It has been in the history of Bitcoin to always fall dip rise Of course there must be massive sell
to make profit, And this will leed to price correction. We can see how Bitcoin has been staggering around $107k and $101k axis and for sure no one knows if it will surge or dip, but however let's the market do it work.
OP;
That's answered by looking at recent historical figures. So, then 100k doesn't last long, Yes, No (!?)
Say a saying: "Volatily; don't ask a rabbit for carrots."
In any case, these are the minimums for each month this year, which can give you an idea of where we're headed to reach that beautiful 'floor' of +100k.
Price Max.-min.2025
|month|Máx. (D)|Mín.(D)||Jan|$109.114,88(20) |$92.525(8)||Feb|$102.514(3) |$78.248(28)||Mar|$92.804(6) |$76.624(11)||April|$95.768(25) |$74.589(9)||May*|$$107,068(19) |$93,399(6)|*Partial data and subject to partial GMT times. Source: CMC
I still think that the market is still trying to make the weak holders confuse into getting them to sell off their holding. The market to me has shown a strong support in the $100K level and that has been proving over and over again from how it rises and fall within that price range.
There is still room for a bull run as the market looks like its just gathering the momentum to break the ATH resistance level and create a new one which will mark another trend to record a new ATH for this cycle. Those that wanted to take partial profit should have done that by now when bitcoin first reached $100K early this year.