Bitcoin Struggles to Break $100,000 Amidst Huge Sell Wall and Profit-Taking Pressure

On December 2nd, BRN analyst Valentin Fournier highlighted a significant challenge for Bitcoin, despite positive market dynamics and increasing investor enthusiasm. Fournier emphasized that the cryptocurrency is encountering resistance near the $100,000 threshold. He elaborated that the current profit-taking sentiment among traders poses a barrier, compounded by a substantial sell wall comprising over 4,000 bitcoins, valued at approximately $3.84 billion. This sell pressure must be addressed for Bitcoin to advance further. As the cryptocurrency landscape evolves, it remains crucial for investors to monitor these developments closely to gauge potential market movements and sentiment shifts. Establishing a sustainable upward trend will require a combination of investor confidence and strategic positioning to absorb significant selling volumes.