bullish

Major

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-declines-as-altcoins-face-significant-losses/" data-wpel-link="internal">Bitcoin Price Declines as Altcoins Face Significant Losses</a> 
The price of BTC fell below $96,000 while <a href="https://en.coin-turk.com/insights-from-analyst-world-of-charts-umas-movement-and-profitability/" data-wpel-link="internal">altcoins</a> experienced double-digit losses. Earlier, we noted that due to the RSI divergence, Bitcoin (BTC) might face a short-term decline. Even during the best bullish periods, interim downturns are inevitable. 
<h2 style="text-align: justify" id="cryptocurrencies-are-plummeting">Cryptocurrencies Are Plummeting</h2> 
The rapid price drop of BTC accelerated following Iran’s statements regarding retaliation against Israel. As of the writing, the price fell under $96,000, impacting altcoins as Ethereum ’s decline began. <a href="https://en.coin-turk.com/significant-dogecoin-movement-from-robinhood-to-unknown-wallet/" data-wpel-link="internal">DOGE</a> saw an 11% drop, XRP experienced a 16% decrease, and <a href="https://en.coin-turk.com/cardano-struggles-to-gain-momentum-above-0-500-resistance/" data-wpel-link="internal">ADA</a> Coin fell by 14%. Quick gains often lead to such rapid declines during bullish phases. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-409595" src="https://coin-turk.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-24_19-03-23.png" alt="" width="1814" height="836"> 
The main concern could arise as the BTC price closes the day in the red. We mentioned that a liquidation of $3.5 billion in long positions down to $95,000 could trigger further declines, complicating matters for altcoins if it dips below that level. 
For an upward movement, key support levels are $97,138, while maintaining $94,197 during declines is crucial. Otherwise, we might see lower wicks between $86,622 and $81,400. Six-figure prices represent a significant psychological resistance, risking faster sell-offs, hence making above $95,000 precarious for some investors. 
Regardless, many positive developments, including Bitcoin reserve formation related to Trump taking office on January 20, are expected to support a rise in the first quarter. 
The post <a href="https://en.coin-turk.com/bitcoin-price-declines-as-altcoins-face-significant-losses/" data-wpel-link="internal">Bitcoin Price Declines as Altcoins Face Significant Losses</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Price Declines as Altcoins Face Significant Losses

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