Discover the impact of whale selling on Bitcoin price surge and the challenges in breaking the $100,000 resistance level. Stay updated on live cryptocurrency prices.
Bitcoin has started the new year with a strong performance, reaching $92,000 with high demand. Despite facing significant selling pressure, the market has improved with a 6% price increase. However, the $100,000 resistance level remains challenging due to whale selling activities. According to Ki Young Ju, the CEO of CryptoQuant, old whales selling Bitcoin is the main reason behind this pressure. This strategic asset redistribution could impact short-term price movements and pave the way for new market entrants. While Bitcoin strives to surpass $100,000, market sentiments remain mixed. Institutional interest and long-term demand indicate strength, but whale selling poses challenges for further price increases.
