Bloomberg: Bitcoin's rally temporarily stalled after approaching $100,000, and may experience consolidation in the short term

Matt Maley, chief market strategist at Miller Tabak + Co, said investors are concerned that Bitcoin "has to take a breather now that it has basically tested the $100,000 level," adding that bullish sentiment around Bitcoin "is getting extreme." The overall value of the digital asset market has grown by about $1 trillion since the Republican victory on November 5. David Lawant, head of research at cryptocurrency prime broker FalconX, said: "As Bitcoin approaches the $100,000 mark, I see an increase in seller bias, which suggests that we may experience consolidation around this level in the short term before continuing to break through this level." Stephane Ouellette, CEO of cryptocurrency investment institution FRNT Financial Inc., said: "Bitcoin has been extremely overbought since the election, and it is destined to stagnate. That being said, this is hardly a correction. We are just back to the level of the middle of last week." (Bloomberg)