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<p>The recent <strong>consolidation phase in Bitcoin (BTC)</strong> has raised concerns among investors, with the leading cryptocurrency now signaling potential downward movement. This shift has led to a change in market sentiment, leaving traders and analysts questioning whether BTC will regain its <strong>upward momentum</strong> or face further declines. Let’s explore the latest expert opinions and analysis on Bitcoin’s price trajectory.</p> 
<p><a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-67567 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Crypto Market Panic: Is Bitcoin’s Bullish Trend Over? = The Bit Journal" width="728" height="90" title="Crypto Market Panic: Is Bitcoin’s Bullish Trend Over? 53"></a></p> 
<h2 id="bitcoin-technical-analysis-key-levels-to-watch">Bitcoin Technical Analysis: Key Levels to Watch</h2> 
<p>Technical indicators suggest that BTC has broken below its <strong>consolidation zone’s lower boundary</strong>, initiating a bearish move. Analysts predict that Bitcoin could experience a <strong>10% drop</strong>, potentially reaching levels as low as $86,300.</p> 
<p>Despite this, Bitcoin is still trading above the <strong>200-day Exponential Moving Average (EMA)</strong> on the daily chart, which is a signal of a strong longer-term bullish trend. However, the <strong>Relative Strength Index (RSI)</strong> exceeding the 70 level indicates that upward momentum might be limited. The RSI is a vital technical tool used to identify whether an asset is overbought or oversold, and its current position hints at caution for bulls.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-71750 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/BTCUSDT_2024-11-25_23-48-43-1024x449-1.png" alt="Crypto Market Panic: Is Bitcoin’s Bullish Trend Over? = The Bit Journal" width="1024" height="449" title="Crypto Market Panic: Is Bitcoin’s Bullish Trend Over? 54"></p> 
<h2 id="factors-driving-the-bearish-sentiment">Factors Driving the Bearish Sentiment</h2> 
<p>One of the major triggers behind Bitcoin’s decline is the large-scale liquidation of <strong>long positions</strong>, as revealed by on-chain data from Coinglass. Over the last four hours, $47.65 million worth of long positions were liquidated compared to just $8.87 million in short positions. In the past hour alone, $6.65 million in long positions and $410,000 in short positions were liquidated, signaling that bearish pressure is dominating the market.</p> 
<p>This wave of liquidations underscores a shift in control back to <strong>bearish forces</strong>, suggesting that Bitcoin’s price may continue its downward trajectory in the days to come.</p> 
<h2 id="major-purchases-fail-to-stem-the-decline">Major Purchases Fail to Stem the Decline</h2> 
<p>Interestingly, this downturn occurred shortly after MicroStrategy completed its massive acquisition of 55,000 BTC, valued at $5.4 billion. Similarly, Semler Scientific, a healthcare firm, recently purchased $30 million worth of Bitcoin. Despite these significant investments, the selling pressure in the market has overshadowed the impact of these acquisitions.<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-71752 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/image-201.png" alt="Crypto Market Panic: Is Bitcoin’s Bullish Trend Over? = The Bit Journal" width="623" height="396" title="Crypto Market Panic: Is Bitcoin’s Bullish Trend Over? 55"></p> 
<h2 id="market-participation-remains-strong">Market Participation Remains Strong</h2> 
<p>Amidst the volatility, Bitcoin’s <strong>trading volume</strong> has surged by 38%, reflecting robust market participation from investors and traders. This heightened activity suggests that the market is closely monitoring Bitcoin’s price action and remains engaged, even as prices fall.</p> 
<h2 id="what-s-next-for-bitcoin">What’s Next for Bitcoin?</h2> 
<p>With bearish indicators dominating the charts, investors are advised to adopt cautious strategies. <a href="https://thebitjournal.com/bitcoin-stays-steady-while-these-5-altcoins-surge/" target="_blank" rel="noopener">While</a> key support levels will be critical in determining Bitcoin’s next move, the current market climate demands a careful approach.</p> 
<p>For the latest insights and updates, The Bit Journal continues to monitor Bitcoin’s performance closely, offering actionable analysis for its readers.</p> 
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Crypto Market Panic: Is Bitcoin’s Bullish Trend Over?

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The Bit Journal

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