Bitcoin is nearing the $100,000 mark as speculation about a major U.S.-U.K. trade deal rises following comments from U.S. President Donald Trump. The initial bullish momentum appears driven by positive sentiments in both the cryptocurrency and traditional markets, with Asian stocks showing gains. However, experts caution that the journey to $100K may encounter obstacles. The Wall Street Journal indicates that the anticipated trade deal announcement may only serve as a preliminary framework rather than an immediate agreement, which could temper the excitement around Bitcoin's price surge. Additionally, Bitcoin faces significant resistance at the $99,900 level, where profit-taking from early investors may exert selling pressure. Indicators such as the Coinbase premium show a bearish divergence, suggesting weakening bullish momentum. Furthermore, the relative strength index (RSI) indicates similar concerns. Overall, while the $100K threshold is on the horizon, various market dynamics suggest that volatility may accompany the move.

Source šŸ”—