Bitcoin barely made an effort to reach 100k last night, indicating that the pressure at this level is basically gone, and the market consensus on Bitcoin has already reached six figures.
The recent pullback had little reason, it was just a leverage adjustment; the main players didn't want to keep letting so many gamblers continue to profit, so they sacrificed high leverage first. Of course, part of this was also due to arbitrage and turnover. In any case, this wave of decline has significantly increased the holding costs in the market, which is very beneficial for the subsequent push to 120k and 150k. After all, Trump has stated he wants to drive Bitcoin to 150k before taking office, and with just over a month until the inauguration on January 20th, time is short. Last night, the Bitcoin ETF only saw $220 million in inflows, indicating that reaching 100k is as easy as eating noodles now, requiring very little external funds from the main players; a gentle pull is enough to get it in.
I have a feeling Bitcoin will break 120k by the end of the year, and hit 150k in January. The window for us to get on board is getting shorter and shorter! The two-day bear market has ended; prepare for a crazy altcoin bull market!
