CoinVoice has recently learned, according to Bitcoinist, that Bitcoin has experienced a significant correction, dropping 15% from its all-time high of $108,300. This price decline marks a sharp shift in market sentiment, which has quickly changed from extremely bullish to uncertain and cautious. As altcoins have been severely impacted, Bitcoin's correction has raised concerns about the sustainability of the recent upward trend.
Top analyst Maartunn recently emphasized that this adjustment coincides with the most severe sell-off activity since October 26 at Coinbase (when the BTC trading price was $66,000). The increase in selling pressure clearly indicates that the market has shifted from a bullish to a fearful and hesitant state. The combination of reduced buying activity and increased selling pressure suggests that the market is struggling to maintain upward momentum.
Additionally, Bitcoin is currently testing the $92,000 level in search of support. [Original link]
