ChainCatcher news, according to The Block, analysts say that profit-taking and large sell-offs are hindering the rise of Bitcoin prices.BRN analyst Valentin Fournier emphasized that Bitcoin faces significant obstacles in breaking through the $100,000 mark. He believes that market catalysts are strong and investor confidence is continuously increasing, but Bitcoin is still struggling to break through the psychological price barrier of $100,000. The phenomenon of profit-taking is evident, and it is necessary to clear the sell-off barrier of over 4,000 Bitcoins (worth approximately $384 million) to achieve higher price levels.

ChainCatcher news, according to The Block, despite a general rise in the U.S. stock market ahead of Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference later this week, the price of Bitcoin has still seen a slight decline over the past 24 hours. In the past 24 hours, the price of Bitcoin has dropped nearly 3%, trading at around $58,500.BRN analyst Valentin Fournier stated that the upcoming Jackson Hole conference may lead to increased volatility in Bitcoin prices, as the market awaits further announcements from the Federal Reserve at the Jackson Hole symposium and macroeconomic indicators. Bitcoin's volatility may rise in the coming days or week.

ChainCatcher news, according to TheBlock, BRN chief analyst Valentin Fournier stated that Bitcoin mining companies seem to be purchasing Bitcoin directly from the market to increase their reserves. These mining companies may have entered a new accumulation phase, and these actions have triggered the Hash Ribbon signal, which is a long-term bullish indicator highlighting the end of miner capitulation.

ChainCatcher news, consulting firm BRN digital asset analyst Valentin Fournier stated that the upcoming PCE data could be the final nail in the coffin for high interest rates and prompt the Federal Reserve to announce interest rate cuts; additionally, if rumors about the establishment of a BTC strategic reserve prove true, Trump's speech at the Bitcoin conference could trigger a stronger rebound, and these factors may drive Bitcoin prices to new highs.