Top traders take profits and exit the top, uncertainties emerge before BTC surges to $100,000

Trader Eugene’s move may reflect a subtle shift in current market sentiment. After approaching the $94,000 target price for BTC, he has taken profits on most of his positions, retaining only a core long position in Bitcoin. This is not bearishness but a more cautious attitude—before surging past the $100,000 mark, the market shows clear signs of uncertainty.

BTC is at a critical juncture

According to the latest data, BTC is currently priced at $93,688.47, just one step away from Eugene’s initial target of $94,000. From market performance, BTC has risen 7.42% over the past 7 days, with a 24-hour trading volume of $4.592 billion, up 35.50% from the previous day. These figures indicate ongoing market participation, but the growth rate is beginning to slow.

Eugene’s three-layer logic

Behind Eugene’s actions are three clear judgments:

• Initial target achieved: The $94,000 target has been largely met; taking profits is executing the pre-set plan
• Uncertainty before $100,000: This psychological threshold is not an automatic breakout but requires new driving forces
• Locking in gains is better than blindly adding: When uncertainty is high, protecting existing profits is more rational than chasing maximum gains

This logic corresponds to the typical characteristics of a market transitioning from a bullish rally to a correction phase. When major players start taking profits rather than adding positions, it often indicates a weakening consensus among market participants about the next move.

The psychological threshold of $100,000

Breaking through $100,000 in BTC has significance far beyond the number itself. It is a psychological barrier and a litmus test for market strength. Eugene’s statement is crucial: “If the price effectively breaks through $100,000, we will reassess and increase participation”—this indicates that $100,000 is not an inevitable breakout point but a threshold that needs validation.

Prior to this, Eugene prefers to “lock in early-year gains and observe market strength.” This reflects a reality: the current price range (around $93,688) is already a good profit-taking position, and continuing to hold carries diminishing risk-reward prospects.

Market insights

The profit-taking actions of major traders often serve as a market indicator. This does not mean BTC will immediately fall, but it shows that market participants’ views on the next trend are diverging:

Some continue to be bullish, waiting for a breakthrough of $100,000; others prefer to lock in profits and observe market strength. This divergence itself is a sign of uncertainty.

In terms of market cap and circulating supply, BTC’s market value has reached $1.87 trillion, accounting for 58.29% of the total cryptocurrency market cap. At this scale, each breakthrough requires larger incremental capital support. The difficulty of surpassing $100,000 will be significantly higher than the process from $93,000 to $94,000.

Summary

Eugene’s profit-taking is not a bearish signal but a risk management move. His retention of a core long position indicates confidence in Bitcoin’s long-term prospects; however, taking profits on most holdings suggests he believes more certainty is needed in the short term. The $100,000 threshold will be a key focus; whether the market has enough new momentum to break through this psychological barrier will determine the subsequent trend. For traders, this could be a good opportunity to observe market strength—watch who is absorbing the sell-offs and whether trading volume can support a price breakout.