Analyst: Bitcoin is in "beast mode," and after a rapid rise, there will be a digestion period

ChainCatcher news, Chris Weston, head of research at Pepperstone Group, wrote in a report that Bitcoin is in "beast mode." "For traders who are still uncertain, the question is whether there is still room to chase this hot trend or to wait for a slight pullback, allowing some of the impulse trend's heat to dissipate."

In the options market, according to data from the derivatives exchange Deribit, investors are betting that Bitcoin will break $100,000 as early as the end of this year. Fairlead Strategies LLC technical analyst Katie Stockton stated in her latest research report, "After such a rapid rise, a digestion period is naturally expected, and a short-term neutral bias is recommended."