Why Bitcoin Can't Exceed $100,000: Analyst Explains $380 Million Reason! - Coin Bulletin

BRN analyst Valentin Fournier highlighted that the biggest obstacle to Bitcoin surpassing the $100,000 level is a massive sell wall of 4,000 Bitcoins worth $384 million.

BRN analyst Valentin Fournier emphasized that there are significant barriers for Bitcoin to surpass the $100,000 level. Fournier used the words, "Despite strong market catalysts and increasing investor confidence, Bitcoin is still stuck at the $100,000 psychological barrier," in the email sent to The Block.

In addition, he noted that there were significant profit takings and that a large sell wall consisting of approximately 4,000 Bitcoins worth about 384 million dollars needed to be overcome.

Fournier said that it is important for the price of Bitcoin to surpass this sell wall in order for it to rise further, and that it would be difficult to transition to higher levels without this happening.

In addition, pointing out that investors are currently realizing their profits, he reported that this situation is preventing the rise of Bitcoin.

The expert stated that depending on how market conditions will shape in the coming period, Bitcoin has the potential to surpass this level, but for this to happen, the existing barriers need to be eliminated.

According to CoinGecko data, Ethereum, which showed a % increase in the last 24 hours, is trading against the dollar at the time of writing.