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Analyst: BTC still has memetic properties and is unlikely to consolidate or have further upside potential above $100,000.
gate News: According to Cointelegraph, Derive founder and Cryptocurrency analyst Nick Forster said: "BTC is still a memetic asset, market psychology often leads to a broader follow-up audience, attracting new market participants and changing the views of existing participants, which will bring further Fluctuation and potential upside space, so it is unlikely to see excessive consolidation around $100,000."
Cryptocurrency trader Matthew Hyland also expressed a similar view, stating that BTC is expected to rise to a price level of $114,000. According to CoinGlass data, if BTC falls below $100,000, an estimated $15.4 billion in longs positions are at risk of being liquidated.