Bitcoin’s Weekend Dip to $93K Sparks Volatility, ‘Extreme Fear’: What’s Next?
Bitcoin dropped to $93,000 over the weekend, leading to heightened market volatility and a signal termed 'Death Cross', which indicates a potential market downturn. This change in price and sentiment, now categorized as ‘Extreme Fear’, resulted from macroeconomic uncertainties and a lack of key economic data. Analysts predict consolidation in the range of $90,000 to $110,000, with any recovery relying heavily on forthcoming macro data and institutional flows. As Bitcoin's price fluctuated, sentiment indicators reflected increased caution among investors, showing a preference for reduced risk amid rising short-term volatility. Experts highlight that while the aggressive selling may have eased, Bitcoin is expected to remain under pressure until more definitive market catalysts emerge, such as favorable ETF inflows or clarity on regulatory conditions. The current focus is on monitoring liquidity conditions and economic signals that could influence Bitcoin's trajectory in the near term.
Source 🔗