Bitcoin hits fear higher as market sentiment rises from 93k
Bitcoin has once again lost more than 20.24 million dollars in earnings and has dropped to 10 dollars for the year to date, from 93,000 dollars previously to 10 dollars.
Market analysts are looking at key support zones to evaluate or predict further downwards or convergence in the coming days.
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A sharp correction will bring profits in 2025
Bitcoin's latest correction is about 24% from October's high above $126,000. At $93,000, they officially extend their acceptance until 2025, marking a well-known psychological and technical failure.
The price trends of the weekend changed significantly. For the first time in several weeks, the first week of the week, instead of the decline, rose from the week, what market analyst Kilking Kalaxix called until Monday. Using 300 days of historical data, this pattern suggests a 36% chance of forming near Monday.
The sentiment of the market turned on the price side. The Crypto Fear and Greed Index dropped to 10, recording two points and high fear from the previous reading. This is marked by the end of November 2024, when the index hits the 93 scud market area.
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Huge liquidations hit the initial markets
The collapse in prices led to liquidation in indirect happy markets. Over 150,000 traders traded in 24 hours, closing at $510 million. Long positions reached 40.37 million in one hour and lost more than 77 million dollars in more than four hours.
Bitcoin was seized from 41.61 million dollars in Monday, followed by an income of 1399 million dollars. Other secrets and chickens like Solana, XP, and Dogecon will see you receiving multi-million dollar liquidation prices.
Levels of support prepare the way for recovery
Market analyst KillaxBTT has pointed out several important support zones for the near-term direction of Bitcoin. The immediate focus is $93,500 – $91,000.
These fields are usually open for high trading activity and demand, because they are zones based on technical analysis. However, the analysis cautioned against using the high level at the moment and the risks of liquidity continue. 4-5% was able to increase their positions with the latest prices related to efficient positions.
If Bitcoin has reached below $85,000, the significant recovery conditions have been marked as a trend reversal. There may be resistance at $98,300 after liquid lows are painted.
The current configuration is highly recommended. With a strong sense of fear and the major liquidations that have already taken place, the market will settle at a critical point. Buyers or sellers shape the bottom of the price in November through November and the end of the year trading.
