Odaily Planet Daily News Bitcoin fell to just above $101,000 last night, and then rebounded to above $104,000. Altcoins, on the other hand, performed relatively weakly, with a general decline.
YouHodler Market Director Ruslan Lienkha said the current pullback appears to be a pullback in a larger medium-term uptrend. After the extension of the US-China tariffs, the stock market's upward momentum has weakened, and short-term traders have begun to lock in profits. This sentiment shift has spread to riskier assets, including Bitcoin.
CoinPanel Trading Automation Expert Kirill Kretov said that any price fluctuations below 5% may generally be regarded as market noise. Part of this volatility may be due to profit-taking, as traders take profits after the recent rise. With liquidity so thin, even a small sell-off can quickly turn into a significant pullback. Get rid of the impact of short-term fluctuations, the overall price trend looks healthy, with no obvious signs of an imminent peak.
Vetle Lunde, senior analyst at K33 Research, said BTC has just emerged from one of the longest periods of below-neutral funding rates, a signal of defensive positioning. This is similar to the patterns of October 2023 and October 2024, and is a far cry from past price movements near the market's peak. He is optimistic that BTC has not yet seen a bubble after breaking through $100,000, paving the way for potential new highs.
According to Steno Research, the tailwind for cryptocurrencies stems from the invisible expansion of private credit, especially in the United States and Europe. Forward-looking indicators predict that global financial conditions will improve in the summer, mainly driven by a weaker dollar.