Bitcoin, Possibility of further rise if defending 102,000 dollars

It has been analyzed that if Bitcoin holds the 102,000~103,000 Dollar range, the upward trend may continue. Bitfinex analysts said in an interview with TheBlock, "Although Bitcoin has declined over the past two weeks, this is only about 9% from the peak," adding, "A similar trend is being observed as in past cases where buying pressure was absorbed and rebounded after a sharp sell-off."

While macroeconomic uncertainty and geopolitical threats in the Middle East still pose downside risks, their assessment is that Bitcoin's bull market may resume if buying momentum recovers. In particular, it was mentioned that if the short-term technical support level of 102,000 Dollars does not break, investor sentiment may turn positive again.