"Bitcoin remains at risk of decline…Defending $102,000 is key"

YM Lee

Summary

Global virtual asset exchange Bitfinex stated that Bitcoin faces downside risks due to macroeconomic conditions and geopolitical risks.
It was analyzed that maintaining the $102,000 level is an important standard for defending the market.
If this price range is defended, it would mean selling pressure is being effectively absorbed and, if buying sentiment recovers, high-risk, high-reward opportunities may arise.

An analysis suggests that Bitcoin must defend the $102,000 level to withstand downward pressure caused by macroeconomic conditions and geopolitical risks.

According to a Cointelegraph report on the 18th (local time), global virtual asset (cryptocurrency) exchange Bitfinex said in a market report: "Recently, due to macroeconomic volatility and heightened military tensions between Israel and Iran, there are concerns over the potential downside risks of Bitcoin. This environment may create high-risk, high-reward opportunities if buying sentiment recovers and the upward trend continues," it explained.

The report added, "If Bitcoin maintains the $102,000–$103,000 area, it would indicate that the market is effectively absorbing selling pressure."

BTC