Will Bitcoin (BTC) Break $100,000? Check out the inhibiting factors!
Jakarta, Pintu News – Bitcoin is inching closer to the $100,000 mark as US President Donald Trump announces a possible major trade deal with the UK. Although Asian stock markets showed improvement and futures tied to the S&P 500 rose by 0.6%, several factors suggest that the journey to $100,000 may not be smooth.
Market Optimism that May Be Overblown
The Wall Street Journal recently reported that what Trump announced may just be the skeleton of an upcoming announcement involving tariff adjustments. This means that the announcement could be just the beginning of discussions that may take weeks or months before a trade deal actually happens.
Bitcoin’s (BTC) bullish momentum could slow down after the initial euphoria subsides. Bitcoin (BTC) price gains consistent with bullish technical setups and positive risk sentiment in traditional markets may be hampered by the reality of lengthy and complex trade negotiations. Investors may need to adjust their expectations of the short-term impact of the announcement on the market.
Also Read: Can Gaming PCs be Used to Mine Bitcoin (BTC)? Here are the Facts in 2025
Strong Resistance at $99.900
It was previously discussed that the $99,900 mark could be a difficult barrier to break. This is due to the potential for increased selling pressure from those who bought Bitcoin (BTC) at those levels earlier this year and profit-taking by long-term holders. Rapid and significant price increases are often followed by corrections as traders secure their profits. This could lead to high price volatility around those levels, making it difficult for Bitcoin (BTC) to maintain its upward momentum.
Coinbase Premium Indicator and RSI Divergence
The Coinbase premium indicator, which measures the difference between the dollar-denominated price of Bitcoin (BTC) on the Coinbase exchange and the Tether-denominated price on Binance, is often considered a proxy for demand from US-based investors.
However, since late April, the seven-day moving average of the Coinbase premium has shown a bearish divergence of the price. Moreover, although Bitcoin (BTC) recorded a new multi-week high during the Asian session, the 14-hour relative strength index (RSI) did not follow suit. This bearish divergence suggests that momentum may be weakening, which could be a warning signal for investors.
Conclusion
With various factors potentially hindering Bitcoin’s (BTC) price rise to $100,000, investors need to consider both technical and fundamental factors in making investment decisions. While the long-term outlook remains bullish, the road to $100,000 may not be as smooth as expected.
Also Read: Robert Kiyosaki Highlights Potential Market Crisis, Calls Bitcoin (BTC) Superior to Gold
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Coindesk. What’s Next for Bitcoin with Crypto Market Cheering Trump’s Trade Deal Hype. Accessed on May 8, 2025
- Featured Image: Generated by AI
