Behold, the crimson tide of Bitcoin’s descent has surged past the threshold of $87,000, a harbinger of despair for the faithful in the digital temple. 📉 The flagship coin, once a beacon of hope, now languishes in the abyss, its value slipping 5% in 24 hours-a veritable apocalypse for the uninitiated. 🧨
The wider crypto market, a congregation of souls in the digital realm, followed Bitcoin’s descent, resulting in the liquidation of over $914 million from leveraged traders. Among these, more than $703 million belonged to the long traders, their hopes crushed in a long squeeze, a cruel jest of the market. 😭
Why Bitcoin Price May Rebound Heavily Ahead
Technical support: BTC price is currently retesting a crucial liquidity level
In the weekly timeframe, Bitcoin has been weaving a symmetrical rising channel since the dawn of 2023. Since its celestial peak of $126,000 in October, it has been ensnared in a correction, retesting the lower border of its macro rising channel. 🧭
Santiment’s inverse trading on retail behavior amid extreme fear of capitulation
According to the oracle of Santiment, retail traders have prophesied BTC’s price to plunge below $70,000. Yet, the market, a fickle lover, tends to dance to the opposite tune of the retail masses. 🕺
The midterm bullish sentiment is bolstered by the extreme fear of further crypto capitulation. CoinMarketCap’s Fear and Greed Index has plummeted to its yearly nadir of 15/100, a testament to the depths of despair. 🌑
The last time this index fell to such levels, the market whispered of a bullish rebirth-though whether this is prophecy or folly, only the gods know. 🧙♂️
Historical playout after the U.S. government shutdown
Following the reopening of the U.S. government, liquidity is expected to flow into the crypto market, fueled by the anticipated Federal Reserve’s Quantitative Easing. As CoinPedia’s scribes noted, Bitcoin may witness a rebound akin to the post-U.S. government shutdown of 2019. 🏦
Read More
- Hazbin Hotel season 3 release date speculation and latest news
- This 2020 Horror Flop is Becoming a Cult Favorite, Even if it Didn’t Nail the Adaptation
- Silver Rate Forecast
- Gold Rate Forecast
- Fishing Guide in Where Winds Meet
- Britney Spears’ Ex Kevin Federline Argues Against Fans’ Claims About His Tell-All’s Effect On Her And Sons’ Relationship
- South Park Creators Confirm They Won’t Be Getting Rid of Trump Anytime Soon
- Valve’s new Steam Machine is just a PC at heart — here’s how to build your own and how much it will cost
- BrokenLore: Ascend is a New Entry in the Horror Franchise, Announced for PC and PS5
- 7 1990s Sci-fi Movies You Forgot Were Awesome
2025-11-20 22:54