Bitcoin remains at $105,000... Experts say it is 'in an unstable state'

Uk Jin

Summary

Although Bitcoin is maintaining $105,000, concerns have been raised that the current price level is structurally vulnerable.
Market sentiment has shifted to a wait-and-see attitude, and the risk of panic selling among investors has increased.
Inflation data such as the United States' May Consumer Price Index (CPI) and Producer Price Index (PPI) may have a significant impact on the Bitcoin market.

The leading cryptocurrency (virtual asset) Bitcoin (BTC) is holding at $105,000, but concerns are being raised that the current price level is structurally vulnerable.

According to the crypto-specialized media The Block on the 9th (Korean time), Dominic John, an analyst at Kronos Research, said, "The fact that Bitcoin is trading above $105,000 signals strength, but the structure remains fragile," and added, "With the Fear & Greed Index at 55, market sentiment is showing a wait-and-see attitude."

Some believe that a market that has entered a wait-and-see mode could reel even from minor shocks. Keiru Hashiki, CEO of Ecolabs, pointed out, "Bitcoin is trading near a major support range, and tense investors could move to panic sell at the onset of a single adverse event."

Meanwhile, The Block explained that macroeconomic factors could serve as a major variable for the future route of Bitcoin. Minjeong, an analyst at Presto Research, said, "This week, inflation data such as the United States May Consumer Price Index (CPI) and Producer Price Index (PPI) will be released," adding, "Should the actual figures deviate from expectations, the market could be significantly affected."

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