Matrixport: Bitcoin enters a rare long-short stalemate zone, with uncertainties surrounding a year-end push to $100,000.

Crypto Assets market expert Matrixport pointed out that the Bitcoin price is currently in a rare stalemate between bulls and bears, sparking intense discussions among traders about the year-end trend: will Bitcoin rebound to 100,000 USD, or fall back to 80,000 USD?

During the Thanksgiving period, Bitcoin rebounded to over $91,800, a phenomenon commonly seen before Christmas. Matrixport emphasized that when the price touched $80,000, a bullish “hammer” reversal pattern appeared, providing technical support for the rebound. However, Glassnode data shows that due to declining market liquidity and increasing realized losses, Bitcoin is caught in range-bound fluctuations, with the futures market deleveraging and options maintaining a defensive stance, while overall demand remains weak.

Matrixport believes that the current Bitcoin positions, investor sentiment, and macro policies are converging to create a rare stalemate. At the same time, the decline in implied volatility has reduced the demand for anti-crash tools. The expectation of interest rate cuts by the Federal Reserve is driving inflows into spot Bitcoin ETFs, stimulating investor interest, but the short-term trend remains unclear.

From a technical perspective, the on-chain cost basis indicator for Bitcoin is key to subsequent increases. If the price breaks through the supply range of $93,000 to $96,000, it will provide conditions for a year-end surge to $100,000 to $108,000. However, recent buying pressure may still create resistance, and short-term market trends need to closely monitor investor sentiment and market liquidity.

Overall, although Bitcoin has the potential to hit 100,000 dollars, the deadlock between bulls and bears along with seasonal fluctuations still pose significant uncertainty in price movements, and traders need to respond cautiously.