Bit frustrating that we seem to be unable to stay above $100,000 for now. We will smash through it and hesd upwards new all time highs but I have to admit I am feeling a little frustrated currently.
I’d like to see $100,000 breached and turned into new support over the next week or so. February is isually a very good month for Bitcoin in a bull run, it’s about time it started acting like it.
I am not frustrated nor does the current situation surprise me in any way - because if you look at the time before January 20, when the big gray
crypto messiah was enthroned in his new old position, everything looked so great and promising, but after that we got only a lot of negative things in the global context with US claims on the territory of Panama, Denmark (EU) and at the end of the Gaza Strip where TFamily would build a luxury resort at the expense of 2 million people who need to be displaced.
In such circumstances and with the expectation of what exactly will happen with Ukraine, people are quite cautious and it suits them to take profits in the range of $90k to $100k - and at the same time all these stories about BTC strategic reserves may indicate that someone behind the scenes is pulling the strings - because if some central banks are going to buy BTC, then it is in their interest for the market to cool down and possibly for the trend to reverse.
To me, it seems like the market has burned out and got stuck because of the bullish news failing to reflect in the spot prices. We know the reason, and honestly, it doesn't make much sense to trade at the time. News can't be used to anticipate price action, ETFs, Saylor, soon also Banks are buying like crazy at OTC desks, exchanges are milking long and short liquidity on a regular basis. The spot market is sick and the action is mirroring just that.