Bitcoin (BTC) with record prices and strong corrections. Here are some key points to note:
1. BTC Price Volatility:
Bitcoin reached nearly 97,000 after failing to break the strong resistance level at 100,000. The sell liquidity walls are said to be a contributing factor pushing the price down in the short term.
2. Liquidity "Spoofing" Strategy:
The phenomenon of "spoofing" occurs when large sell orders are created on the order book to put downward pressure on prices, causing automated trading bots to react. This is how the market is being manipulated to adjust prices to the support area, with 97,300 seen as an important bottom.
3. Record Profits for Investors:
Long-term investors took profits at high levels when BTC hit 99,800, recording daily profits of $443 million on November 22. The unrealized profit ratio also reached 57%, raising concerns about the possibility of a price correction.
4. Bullish Market Outlook:
Analyst Caleb Franzen remains optimistic with a price forecast of BTC reaching 175,000 by 2025. He notes that the current market cycle is still "on schedule" compared to previous bullish phases of Bitcoin.
5. Warning
The cryptocurrency market always carries high risks, and investors need to be cautious, thoroughly research before making decisions.
These analyses reflect both the exuberant and cautious sentiment of the market as Bitcoin reaches new highs. Price action in the coming days may provide clearer signals about the next direction.
