Bitcoin Rally To $105K Unlikely Due To Global Socioeconomic Factors
Despite recent ETF inflows, Bitcoin's rally to $105K is unlikely due to geopolitical risks and weak derivatives sentiment.Summary
Bitcoin recently surged past $97,000, supported by $840 million in spot ETF inflows, but a sustained rally toward $105,000 appears unlikely based on current market indicators. The 30-day options delta skew remains positive at 4%, indicating professional traders are not turning bullish and remain skeptical of gains above $100,000. This caution is reinforced by broader global socioeconomic factors, including geopolitical tensions involving Iran, the US, China, and India, as well as uncertainty surrounding the US acquisition of Greenland. Furthermore, falling yields on US 2-year Treasuries signal a flight to safety, and major tech indices like the Nasdaq are weak, suggesting reduced risk appetite that limits cryptocurrency upside. Even figures like Warren Buffett are increasing cash reserves amid AI uncertainty, reflecting a general market caution that caps Bitcoin's potential for immediate, significant gains.
(Source：Cointelegraph)