Analysts: Profit-taking and heavy selling hinder recent Bitcoin price gains

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Cointime2024/12/02 13:22

By:Cointime

analysts believe that profit-taking and massive selling are hindering the rise in the price of Bitcoin. BRN analyst Valentin Fournier emphasized that Bitcoin faces major obstacles in breaking through the $100,000 mark. He believes that strong market catalysts and increasing investor confidence are present, but Bitcoin is still struggling to overcome the psychological barrier of $100,000. The phenomenon of profit-taking is evident, and more than 4,000 bitcoins (worth about $384 million) in selling barriers must be cleared to achieve higher levels. (TheBlock)

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- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14