Bitcoin stalling at $100,000? ETF experts debate next crypto trades
After topping $111,000 in May, bitcoin has not been able to break out significantly above the $100,000 range.
Some investors may simply be cashing in their chips, according to Tom Lee, managing partner and head of research at Fundstrat Global Advisors, with investors who bought into the coin during much earlier stages of its history now sitting on huge gains.
“We have clients that have bought bitcoin at $100,” Lee said on a recent edition of CNBC’s “ETF Edge.”
“They don’t care if bitcoin goes to a million; they are probably sellers at around $100,000,” he said.
Even if bitcoin is running into resistance at the $100,000-$110,000 level, other bets in the crypto market have taken off, including the digital assets infrastructure providers,…
