Analyst: Profit-taking and large sell-offs hinder recent BTC price increase

ChainCatcher news, according to The Block, analysts say that profit-taking and large sell-offs are hindering the rise of Bitcoin prices.

BRN analyst Valentin Fournier emphasized that Bitcoin faces significant obstacles in breaking through the $100,000 mark. He believes that market catalysts are strong and investor confidence is continuously increasing, but Bitcoin is still struggling to break through the psychological price barrier of $100,000. The phenomenon of profit-taking is evident, and it is necessary to clear the sell-off barrier of over 4,000 Bitcoins (worth approximately $384 million) to achieve higher price levels.