“Investors are worried it will have to take a breather now that it has basically tested the US$100,000 level,” said Matt Maley, chief market strategist at Miller Tabak + Co. “I’d note that bullishness surrounding Bitcoin is getting extreme.”
Bitcoin retreated after a rally toward US$100,000 ($134.25) sputtered just shy of the historic level amid warnings that investor optimism stemming from President-elect Donald Trump’s support for crypto was getting overdone.
The digital asset fell as low as US$95,776 on Sunday after coming within US$300 of the six-figure milestone on Friday. It struggled for traction near US$97,000 early in Asia on Monday, setting a downbeat tone for the wider crypto market.
