Novogratz explains selling pressure on Bitcoin from profit-taking by 2024 buyers

From Investing.com

November 25, 2024 09:00 AM:

Bitcoin (BTC) has struggled to break above $100,000 on spot markets despite hitting the mark on CME Futures. Mike Novogratz attributes the selling pressure to 2024 buyers taking profits above $56,000. Recent buyers are mostly long-term holders, stabilizing the market. Supply is decreasing, a positive trend according to Novogratz. The supply-demand balance and psychological barriers like $100,000 are affecting Bitcoin’s price. Novogratz remains cautiously optimistic for steady growth.

Read more at Investing.com: Who’s Selling Bitcoin? Billionaire Novogratz Breaks It Down By U.Today