Bitcoin trembles at the $100,000 mark. What’s keeping pressure on the price?

Core Insights - The cryptocurrency market is currently experiencing significant volatility, with Bitcoin's price struggling around $100,000, contrary to earlier predictions of reaching $200,000 by the end of 2025 [1][2] - The total crypto market has lost approximately $800 billion in value, representing a decline of about 19% [1] - Analysts have revised their price forecasts downward, with Galaxy Digital now predicting Bitcoin may only reach $120,000 before 2026, down from an earlier estimate of $185,000 [4] Market Sentiment - Market sentiment has shifted negatively, with traders feeling the impact of recent market events, including a significant crash on October 10 that resulted in $20 billion in liquidations and a $128 million hack on November 3 [4] - The psychological threshold of $100,000 is being closely monitored, as it is both technically significant and a major psychological barrier for traders [2] - Long-term investors are reportedly locking in profits based on a perceived four-year cycle, contributing to the downward pressure on prices [5] Consumer Confidence - Broader consumer sentiment in the U.S. has also declined, reaching near-record lows due to rising inflation, unemployment, and ongoing economic challenges, including trade wars and a prolonged government shutdown [6]