Opinion: $100,000 is a key psychological level for BTC, traders may take profits or brace for a consolidation period

BlockBeats News, May 11th: Bitcoin has continued to rise this week. eToro market analyst Josh Gilbert stated that the market has clearly shifted to a more risk-on sentiment in the past week. The easing trade tensions seem to be alleviating, with Trump indicating willingness to negotiate, helping boost the sentiment for risk assets (especially Bitcoin).

BTC Markets cryptocurrency analyst Rachael Lucas believes that significant psychological levels such as $100,000 often prompt short-term profit-taking, and traders may experience a consolidation period after locking in profits. (Bloomberg) Read more