Analyst: BTC falling below $100K would create immense market anxiety

Alex Thorn, head of research at Galaxy Digital, told Cointelegraph that if Bitcoin falls below $100,000, it would create immense anxiety that could jeopardize the structural bull market. He explained that the worst-ever forced liquidation event on Oct. 10 was not driven by Bitcoin's fundamentals, noting that the asset is simply trading like a macro asset. Thorn added that a step-like rally is underway, which suggests that passive buying pressure is building.