Altcoin Daily Predicts Bitcoin Drop to $103K

Altcoin Daily has indicated that Bitcoin could fall to $103,000, aligning with its 50-week moving average, while analyst Omkar Godbole identified $97,000 as the first support level. Following a significant October crash, retail traders are currently experiencing high levels of fear, as noted by Santiment. It's reported that trading activity surged 60.5% above the weekly average, with long-term holders selling around 325,600 BTC, the highest monthly sell since July. Analysts suggest Bitcoin is consolidating in a tight trading range of $107,000 to $108,000, facing resistance at $111,650 and $113,600. If Bitcoin drops below $107,400, it risks further declines toward $102,000 to $104,000, areas indicative of previous accumulation. The market dynamics reveal mixed trading flows, suggesting that traders are awaiting a decisive movement beyond the current range to establish clearer positions.

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