Bitcoin’s bulls pull back as its quest for $100,000 runs into resistance

Bitcoin bulls are starting to express some doubts after what seemed like an inevitable march toward a record high price of $100,000 loses momentum.

“While we’re seeing strong institutional buying pressure, particularly from entities like MicroStrategy’s continued accumulation strategy, the broader crypto ecosystem is experiencing a diversification of capital flows from both institutional and non-institutional participants,” said Chris Newhouse, director of research at Cumberland Labs.