The bulls are about to face their toughest battle yet at the $100K resistance level. It's not just a psychological round number that's hard to break. A lot of investors are on the sidelines, waiting to jump in only after BTC decisively breaks and holds above $100K. Right now, Bitcoin is climbing on low trading volume, which won't be enough to punch through a massive 4% resistance zone.
This current BTC pump is almost solely thanks to Trump, who has found a new way to boost the price by starting a localized military op in Venezuela and planning a whole series of similar moves. But the US Senate keeps dragging its feet on passing crypto regulation. Now it's been pushed back to the end of January. The bill has multiple versions and is getting loaded with amendments that are bad news for the crypto market.
On the other hand, miners have stopped selling their BTC, and investors are withdrawing coins from exchanges.
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Posted by tornavec