Is Bitcoin Facing a 'Fall Season' After Recent Market Plunge?
Bitcoin's recent plunge has erased its earlier gains, reflecting a deepening bear market. The cryptocurrency fell below $93,714, a stark contrast to its previous peak of $126,251.
This downturn has raised concerns, particularly as major buyers retreat amid heightened market risk. Analysts warn that Bitcoin may be entering a 'fall season,' typically characterized by profit-taking and potential declines.
The situation worsened with the confirmation of a death cross on its trading chart, a bearish signal often followed by further losses. Liquidations in the futures market have intensified, while the Crypto Fear & Greed Index suggests heightened anxiety among investors.
Despite the turmoil, the rising Realized Cap indicates that new capital is still entering the market, hinting at a potential shift in sentiment.
The press radar on this topic:
Bitcoin price falls below $94k as liquidations spike and ETFs bleed, is more downside coming? Bitcoin price confirmed a death cross
Bitcoin erases year’s gain as crypto bear market deepens
Crypto fear and greed index returns to 2022 lows as prices tumble
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