Bitcoin’s Weekend Dip to $93K Sparks Volatility, ‘Extreme Fear’: What’s Next?
Bitcoin dropped to $93,000 over the weekend, forming a ‘Death Cross’ and triggering an ‘Extreme Fear’ sentiment in the market. The decline, attributed to macroeconomic uncertainties and the lack of significant economic data, marks a 10% decrease from its weekly high of $106,562. Market analysts predict a volatile consolidation phase between $90,000 and $110,000, with potential recovery hinging on upcoming macroeconomic data and ETF inflows. Experts note that the current market sentiment is risk-averse, influenced by softer ETF demand and increased leveraged position liquidations. They indicated that Bitcoin’s trajectory depends largely on macroeconomic reports regarding inflation and jobs, which could impact investor confidence. The prevailing opinion is cautious, suggesting that while aggressive selling may be slowing, a sustained recovery could take time as the market seeks a definitive catalyst for change.
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