"Bitcoin: Whether it can defend the $103,000 level is crucial… Long-term outlook remains positive"

There is an opinion that the upward momentum of the leading virtual asset (cryptocurrency), Bitcoin (BTC), has temporarily weakened. In this process, it is argued that the $103,000 level could be an important turning point for Bitcoin.

According to the specialized virtual asset media outlet The Block on the 1st (local time), Rachel Lucas, an analyst at BTC Market, said, "Indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are signaling that the current upward momentum has started to weaken." However, she also stated, "In the long term, the outlook is optimistic. Both analysts and market participants are increasingly convinced that we may be entering an early stage of a new supercycle."

Lucas especially emphasized the need to pay attention to the $103,000 level during this phase. She forecasted, "If Bitcoin can remain in the $103,000~$105,000 range, it could rise again to $115,000. Conversely, if it falls below $103,000, Bitcoin could drop as low as $93,000."

She added, "However, even if Bitcoin declines, the long-term outlook remains optimistic," and explained, "This is why we’re being cautious, wondering whether this is the start of a short-term rally or just a brief pause before the next upward move."