Is Bitcoin At $106,000 'Cheap'? Here's How You Can Tell

Core Insights - Bitcoin's current weakness raises concerns about the dominance of short-term trading in the crypto market, affecting overall price performance [1][4] - Prominent trader Pentoshi highlights critical levels for Bitcoin, suggesting that temporary dips may be tradable, but sustained breaches could lead to significant price movements [1][2] Market Dynamics - The crypto market is experiencing weakness compared to other markets, with stocks and commodities showing upward trends while altcoins remain stagnant [3] - Pentoshi notes that the crypto market is largely influenced by short-term trading cycles, with rare sustained moves in altcoins and narratives often reversing within two weeks [4] Trading Strategy - Pentoshi recommends a neutral and adaptable trading approach, suggesting reduced trade sizes due to thinner order books and overall market weakness [2][4] - For altcoins to achieve meaningful gains, key support and resistance levels must be reclaimed, although the timing of such movements remains uncertain [5]