Analysis: Bitcoin Pauses Temporarily After Approaching $100,000 Level, Might Experience Short-Term Consolidation

BlockBeats News, November 25th, according to Bloomberg, Matt Maley, Chief Market Strategist at Miller Tabak + Co, stated that investors are concerned that Bitcoin "must take a breather now as it has essentially tested the $100,000 level," adding that the bullish sentiment around Bitcoin "is becoming extreme." Since the Republican victory on November 5th, the overall market value of digital assets has increased by about $1 trillion.

David Lawant, Head of Research at cryptocurrency OTC broker FalconX, stated: "As Bitcoin approaches the $100,000 milestone, I see an intensification of selling pressure, indicating that we may experience consolidation around this level in the short term before continuing to break through this level."

Stephane Ouellette, CEO of cryptocurrency investment firm FRNT Financial Inc., stated: "Since the election, Bitcoin has been in an extremely overbought state, destined to stall. However, this current price action is hardly a pullback; we have just retraced to the levels of mid-last week."