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Bitcoin Stuck Around the $100,000 Level: Is It Losing Its Upward Strength?

The cryptocurrency market is experiencing a state of cautious anticipation, with the price of Bitcoin (BTC) trading around the $100,000 level. After a series of gradual increases since the beginning of 2023, Bitcoin is facing a period of price consolidation and sideways trading.

Despite the prevailing optimism about the possibility of a bullish breakout, three key developments are raising concerns among investors and casting shadows over the future of the digital currency.

The Shortage of Liquidity in US Dollars Raises Concerns

The shortage of cash liquidity in US dollars, the global reserve currency, is one of the most significant challenges facing financial assets in general, and cryptocurrencies in particular.

The cash balance of US dollars held in the General Treasury Account (TGA) has risen from $623 billion to $800 billion in just four weeks, according to data source MacroMicro.