October 25th marked the 200th day that Bitcoin (BTC) price last exceeded $100,000.
As of the publication of this article, the price of BTC has increased from $111,600 to nearly $113,500. Increased by 1.7% in the last 24 hours.
If BTC continues to rise above $100,000, there will be psychological and technical implications.
From an emotional point of view, this is a level that strengthens the confidence of traders and investors, who typically interpret stability above a certain threshold as: Signs of structural strength.
In financial markets, a “psychological level” is a price that attracts a large number of buy and sell orders and acts as a natural barrier against sudden movements.
From a technical approach, keeping the price above that line means creating a new support zone.
Simply put, support is a price range where demand tends to exceed supply. Prevent asset value from falling below that line. Therefore, Bitcoin’s decline has now bottomed out at a higher level than in previous cycles, indicating the market’s maturation process.
Bitcoin price provides catalyst and brake
Meanwhile, institutional adoption continues to increase. Companies are Strategy for incorporating BTC into balance sheet as a store of value.
Meanwhile, companies that issue financial products continue to expand their holdings, such as BlackRock, which already holds more than 800,000 Bitcoins to back exchange-traded funds (ETFs).
At the same time, so-called “whales” (investors managing more than 1,000 BTC coins) slowed down their sales, Maintain limited supply on the market.
Looking ahead, two events could determine the direction of prices for the rest of the year, as reported by CriptoNoticias.
One of them is Possibility of interest rate reduction A move by the US Federal Reserve (FED) that historically boosts risky assets.
The other one is as expected Meeting between President Donald Trump and President Xi Jinping. Trade tensions between the two countries (prompted by President Trump) contributed to the volatility in October, when the price of Bitcoin fell to $104,000 following President Trump’s comments about potentially raising tariffs on China.
Finally, gold, an asset traditionally associated with hedging against inflation and uncertainty, has also gained investor attention, taking some space away from BTC.
And despite the subsequent correction, metal prices reached an all-time high (ATH) on October 20, reflecting continued interest in value havens amid global economic uncertainty.
(Tag Translation) Bitcoin (BTC)
