Bitcoin has demonstrated solid demand at $98,000, maintaining price stability despite challenges in breaching the $100,000 threshold. Traders signal optimism, with many focusing on bullish patterns amidst current market conditions. Spot-market demand appears robust, supported by institutional purchases and ETF activities. Analysts highlight that as Bitcoin's relative strength index (RSI) forms a narrowing channel, a breakout could lead to price increases. Despite this positive sentiment, some caution prevails due to potential geopolitical risks, particularly tensions between the U.S. and China. Firms like QCP Capital warn that external shocks could impact Bitcoin's resilience, underlining the importance of prudent risk management strategies in a volatile environment. Investors are encouraged to remain vigilant as the cryptocurrency landscape evolves, shaping potential market movements.

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