Bitcoin Faces Resistance at $108,000 Amid Market Hesitancy
- Bitcoin recently reached over $105,000 but faces resistance at $108,000.
- Funding rates, a key indicator, are declining, indicating weakening demand.
- Analyst ShayanBTC notes that rising funding rates typically signal market optimism.
- Long-term holders (7+ years) are not selling their Bitcoin holdings.
Bitcoin’s upward momentum is challenged by declining funding rates and market hesitancy to surpass the $108,000 resistance level. Long-term holders remain confident in Bitcoin’s value despite short-term fluctuations.
Source (2.6)https://www.newsbtc.com/bitcoin-news/bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals/?rand=52377
