Bitcoin is grappling with breaking the $100,000 barrier, facing setbacks while maintaining critical support levels. The Fear and Greed Index shows bearish sentiment, signaling investor caution as the index dips into the Fear zone for the second time since October 2023. This may hinder short-term momentum.
New investors are actively accumulating Bitcoin at lower prices, indicated by an improved adoption rate of 44%. This suggests fresh market interest despite current uncertainties. Nonetheless, persistent mixed signals could prolong the consolidation phase, hindering decisive price movements.
To drive a sustained uptrend, Bitcoin needs a shift in momentum and must transform the $100,000 resistance into a support level, fostering renewed investor confidence for higher targets.
Fuente: beincrypto.com ↗