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Bitcoin on the Brink of $100,000? Why Traders are Eyeing this Milestone in the Short Term


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The crypto community is buzzing with excitement as Bitcoin (BTC) is once again capturing attention with growing expectations for a rally toward the $100,000 mark. Here’s an analysis of why traders are setting their sights on this key psychological milestone and what factors are fueling this optimistic sentiment.

-Bitcoin Halving Cycle Anticipation

Bitcoin’s next halving event, expected in 2024, reduces the reward miners receive for verifying transactions, thus lowering the supply of new BTC entering circulation. Historically, halvings have preceded major price rallies, and the anticipation of this event has many traders betting on a price surge.

-Bullish Technical Indicators

Recent technical analysis shows that BTC is forming a “cup and handle” pattern, a classic bullish signal that often precedes major price increases. Key support levels have held up in recent weeks 

-What’s Next for Bitcoin?

Traders are watching for key indicators that could confirm the path to $100,000, including ETF approvals, stability in the broader market, However, long-term holders are generally optimistic, seeing BTC's potential for continued growth. Where are you holding is it on DEX or CEX ?

 

 

 

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