[Analysis] "Bitcoin, Breaking through 100,000 dollars is key"

Some argue that the price level of 100,000 dollars for Bitcoin (BTC) itself can act as a psychological resistance. However, analysis suggests that if it breaks through 100,000 dollars, the rally could continue.

On the 5th (Korean time), a contributor at Guga Onchain CryptoQuant wrote in a report, "Bitcoin is currently at the point between a strong upward rally and a dead-cat bounce (a temporary rebound followed by a renewed decline)," adding, "Optimism based on the Fed's rate cut scheduled in 10 days and caution due to increased volatility are clashing."

The contributor said, "The growth-rate-difference indicator recorded -0.00095, a phase where market cap growth is declining faster than realized market cap growth," and added, "This suggests a correction and structural weakness."

The contributor pointed to 100,000 dollars as a key price level. He analyzed, "100,000 dollars is a strong psychological resistance level that historically required multiple attempts," and "if it fails to hold after a breakout, the price could return to the 90,000 dollars range."