EXCLUSIVE: Why Bitcoin Cannot Crack $100,000 Just Yet
Bitcoin‘s (CRYPTO: BTC) struggle to cross the $100,000 mark is due to profit-taking, derivatives data and historical trends, analysts tell Benzinga.
Bitcoin is currently trading at $94,870, down 0.4% for the day, according to data from CoinGecko.
Avinash Shekhar, co-founder and CEO of Pi42, told Benzinga that Bitcoin’s pullback reflects a consolidation phase rather than weakness.
He highlighted the robust demand in derivatives markets, with traders paying a 17% annualized premium for leveraged BTC positions.
“The Bitcoin options markets also show confidence, as options are trading at an 8% discount, indicating reduced hedging demand,” Shekhar said.
He added that funding rates for perpetual contracts remain neutral at 1.4%, supporting a balanced leverage environment.
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