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Bitcoin fails to break $0.1 million - various factors suppress upside.
① Impact of psychological milestones: Profit-taking selling occurred at the price range of 0.1 million dollars.
② Market overheating: Sharp price surges in a short period lead to corrections.
③ Completion of demand: Funds are diversifying into altcoins and meme coins.
④ Uncertainty of regulations: Expectations for Trump's regulatory easing lack concrete measures.
⑤ Increase in profit-taking selling: Short-term investors and institutional investors sell near major thresholds.
⑥ Lack of liquidity: Trading volume decreases over the weekend, leading to a slowdown in the uptrend.
⑦ Strong U.S. dollar bias: The strength of the dollar suppresses the inflow of funds into Bitcoin.
Overall market correction: The cryptocurrency market as a whole is transitioning from overheating to a correction phase.
② Market overheating: Sharp price surges in a short period lead to corrections.
③ Completion of demand: Funds are diversifying into altcoins and meme coins.
④ Uncertainty of regulations: Expectations for Trump's regulatory easing lack concrete measures.
⑤ Increase in profit-taking selling: Short-term investors and institutional investors sell near major thresholds.
⑥ Lack of liquidity: Trading volume decreases over the weekend, leading to a slowdown in the uptrend.
⑦ Strong U.S. dollar bias: The strength of the dollar suppresses the inflow of funds into Bitcoin.
Overall market correction: The cryptocurrency market as a whole is transitioning from overheating to a correction phase.
[Cultural Perspective]
The inability of bitcoin to surpass $0.1 million was due to various factors.
Firstly, the psychological milestone of $0.1 million triggered profit-taking selling and capped the upside.
Furthermore, the overheating of the market due to Trump's reelection led to a short-term correction.
Moreover, the diversification of funds into altcoins and meme coins led to a rotation in demand away from bitcoin.
While expectations for regulatory easing are high, the lack of clear measures and limited significant inflows of funds were limiting factors.
Amid a decrease in liquidity over the weekend, the strength of the US dollar also cannot be ignored as it hindered the overall rise of the cryptocurrency market.
There is a possibility that the entire market has entered a correction phase, and new factors and improvements in the market environment will be necessary for future growth.
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