Bitcoin

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Status

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-decline-as-selling-pressures-mount/" data-wpel-link="internal">Bitcoin Faces Decline as Selling Pressures Mount</a> 
As the <a href="https://en.coin-turk.com/wisdomtree-lists-bitcoin-and-ethereum-etps-on-london-stock-exchange/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/senator-lummis-plans-bitcoin-legislation-at-upcoming-conference/" data-wpel-link="internal">cryptocurrency</a> market continues to fluctuate, Bitcoin has fallen below $92,000, with deeper lows anticipated. The failure to reclaim the $97,138 mark raised the risk of increasing downward momentum, leading to a sell-off and long liquidations that define today’s market situation. 
<h2 style="text-align: justify" id="what-price-could-bitcoin-drop-to">What Price Could Bitcoin Drop To?</h2> 
The Titan of Crypto discussed the risk of decline during a week when markets were warned by overbought signals. Predictions suggested a potential drop to around $90,000, with a further target set at $94,200. Without protection at these levels, bitcoin could see a pullback towards the Kijun support near $83,500 if the current weakness persists and is supported by ETF exits. 
<blockquote> 
 “Bitcoin Short-Term Update As expected, a pullback towards $94,200 occurred. Interestingly, when I shared this target, no analysts mentioned it. What comes next? If the breakout is confirmed, the next key support could be around $83,500.” 
</blockquote> 
Despite the ongoing declines, there is a prevailing belief in the continuation of upward momentum in the medium to long term. The reaction from more professional investors in the ETF market could see a dip near $83,500, with billion-dollar ETF inflows potentially causing panic with corresponding outflows. 
<h2 style="text-align: justify" id="current-status-of-cryptocurrencies">Current Status of Cryptocurrencies</h2> 
In his recent assessment, QuintenFrancois highlighted massive sales by long-term investors. While Michael Saylor individually acquired over $10 billion worth of BTC, long-term investors viewed prices nearing $100,000 as an opportunity for profit. 
<blockquote> 
 “In November, long-term investors sold 198,000 BTC. It is quite normal for long-term holders to start profiting at $100,000. Relax, #Bitcoin will absorb all this selling pressure.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-410146 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/11/btc-uzun-vadeli-yatirimci-satislari.jpg" alt="" width="1066" height="507"> 
While declines in bear markets challenge investor psychology, the high volatility of bull markets induces similar effects. Experienced investors prefer to observe markets from a broader perspective rather than focusing on short-term fluctuations, preparing for trends that may evolve in the upcoming months. Currently, the news cycle indicates potential for increased gains by early 2025. 
The post <a href="https://en.coin-turk.com/bitcoin-faces-decline-as-selling-pressures-mount/" data-wpel-link="internal">Bitcoin Faces Decline as Selling Pressures Mount</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Faces Decline as Selling Pressures Mount

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