Editor's PiCK
[Analysis] "Cryptocurrency Market Maintains Cautious Tone Amid Volatility... Bitcoin Forms Resistance Near 108k"
Summary
- The cryptocurrency market is maintaining a cautious tone in anticipation of volatility.
- Bitcoin is likely to face a significant turning point around 104k.
- The resistance near 108k and the support around 98~99k are being emphasized.
The cryptocurrency market is reportedly maintaining a cautious tone in anticipation of potential volatility.
On the 25th, Adam, a researcher from the cryptocurrency options analysis firm Greeks.live, stated on X (formerly Twitter), "The cryptocurrency market remains cautious yet optimistic. Investors are focusing on managing their positions amid potential volatility."
He analyzed, "Bitcoin is likely to face a significant turning point around 104k," adding, "Bitcoin is forming a potential support line around 98~99k. The 108k area will serve as a short-term resistance."
Furthermore, he added, "In the (derivatives) community, strategies like selling covered calls are considered advantageous, keeping in mind the potential rise of Bitcoin."
The BTC price was trading at $104,436, down 0.87% from the previous day, based on the Binance USDT market at 21:24 on this day.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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