Greed

Bitcoin

when

<p>Bitcoin has dropped below $95,000, catching the market off guard after hovering above $98,000 just a day ago. It briefly peaked near $99,500 before tumbling to $94,427, leaving traders wondering: is this the start of something more concerning? </p>   
<p>This sudden drop comes amid heightened trading activity, stirring up speculation about Bitcoin’s next move. The stakes are high, and the market’s next steps could set the tone for the weeks ahead.</p>   
<p>Let’s break down the factors driving this volatility and what could come next.</p>   
<h2 class="wp-block-heading" id="h-bitcoin-price-drop-analysis">Bitcoin Price Drop Analysis </h2>   
<p>In just 24 hours, Bitcoin’s price fell by about 5%, sliding from its peak of $99,500 to its current level. Interestingly, trading volume jumped by 60.55% during this drop, indicating that buyers and sellers are still very active. </p>   
<p>Some see this as a necessary price correction, possibly setting the stage for Bitcoin to make another attempt at climbing higher.</p>   
<h2 class="wp-block-heading" id="h-key-levels-to-watch">Key Levels to Watch</h2>   
<p>Bitcoin is now testing a critical resistance level at $95,750. Breaking past this point could push the price toward $96,000 or $97,350, with the potential to climb back to $98,880 or even aim for $100,000.</p>   
<figure class="wp-block-image aligncenter size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/26093054/bitcoin-price-chart-5-1024x543.png" alt="bitcoin price chart" class="wp-image-385346">
</figure>   
<p>However, if Bitcoin fails to overcome $95,750, it could face further declines. Key support levels are at $93,000, $92,500, and $90,000. A fall below these thresholds might open the door to a deeper drop, possibly hitting $88,000.</p>   
<h2 class="wp-block-heading" id="h-whales-are-betting-big">Whales Are Betting Big </h2>   
<p>Bitcoin’s large investors, known as “whales,” are still making moves despite a total of $526 million in liquidations, including $300 million from long trades. Their ongoing activity suggests confidence in an imminent price shift, potentially driven by insights that the broader market hasn’t yet grasped.</p>   
<figure class="wp-block-image aligncenter size-full">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/26093324/bitcoin-liquidation-data-1.png" alt="" class="wp-image-385348">
</figure>   
<p>Market sentiment has noticeably cooled. The Fear &amp; Greed Index, which hit a high of 94 last week when Bitcoin approached $99,000, has now fallen to 79. Similarly, the Relative Strength Index (RSI) is at 41.70, signaling that Bitcoin is no longer in an overbought zone. </p>   
<p>This could indicate that the market is pausing before its next big move.</p>   
<p><strong>Options Expiry Adds to Market Pressure</strong></p>   
<p>The market is also bracing for the expiry of $9.4 billion in <a href="https://coinpedia.org/news/9-4b-worth-bitcoin-options-expiry-will-the-price-jump/" target="_blank" rel="noreferrer noopener">Bitcoin options</a> on Friday. These large-scale expirations often lead to increased volatility as traders reposition themselves. The psychological and technical impact of this event could play a significant role in shaping Bitcoin’s next steps.</p>   
<h2 class="wp-block-heading" id="h-what-s-next-for-bitcoin">What’s Next for Bitcoin?</h2>   
<p>The coming days are critical for Bitcoin. If it can break above the $95,750 resistance, it could regain bullish momentum, potentially heading toward $100,000. However, failure to do so might result in further declines toward lower support levels.</p>   
<p>With increased whale activity, cooling sentiment, and the options expiry on the horizon, traders are closely watching for any signs of Bitcoin’s next move. </p>   
<p><strong>Whether it rebounds or continues to slide, the market is in for a decisive period.</strong></p>

Crypto Crash Alert: Why Is Bitcoin Down Today?

Table of Contents

CoinPedia News

Other articles published on Nov 26, 2024

Central Bank of Iran promises CBDC launch, fintech to fight sanctions

LCAI Price Prediction for 2024: The Most Popular Decentralized AI Token as Presale Gathers Momentum

Traders seen $553 million crypto liquidations as Bitcoin dropped $92k

Spot Bitcoin Exchange Traded Funds (ETFs) in the US See Massive Outflows! Is This the Reason for ...

Bitcoin (BTC) $90,000 in Danger: What's Happening?

Bitsonic CEO Jinwook Shin Sentenced to 7 Years for Embezzlement and Fraud

Join our free newsletter for daily crypto updates!