$BTC
The Mystery of Bitcoin's Pullback!
Clouds Over Coinbase's Sell-off
Recently, Bitcoin has experienced a significant pullback, with prices plunging 15% from a historic high of $108,300. Market sentiment has also shifted dramatically from extreme optimism to a haze of uncertainty and caution.
The altcoin market has also suffered a heavy blow, causing investors to worry whether Bitcoin's recent rally can be sustained.
Renowned analyst Maartunn pointed out that this Bitcoin price adjustment is highly correlated with Coinbase's large-scale sell-off actions since October 26 (when the BTC trading price was $66,000).
The significant rise in selling pressure is undoubtedly a strong signal that the market sentiment has shifted from bullish to bearish, with fear and hesitation beginning to spread throughout the market.
Under the dual pressure of weak buying intentions and surging selling pressure, Bitcoin's upward momentum is clearly lacking, and its subsequent trends remain shrouded in uncertainty, becoming the focus of attention in the cryptocurrency market.
Follow me for daily updates on the latest quality market information, helping you to make money without losing your way!