Bitcoin (BTC) price has fallen to $96,500, causing concerns across the market. Like the sudden corrections experienced in the past, this decline may be an expected move, but the deepening of the process may indicate a difficult period for investors. Such fluctuations in the cryptocurrency market require short-term investors in particular to review their strategies.
Analysts state that negative deviations in the Relative Strength Index (RSI) data give bearish signals. A drop below the critical support point at $97,138 is considered a warning that price declines may accelerate. In addition, the possibility of a pullback to $95,000 is on the agenda, which could lead to serious selling pressure on altcoins. Short-term sudden pullbacks can pose a risk to long positions in the market. For example, the possibility of liquidation of long positions worth $3.4 billion indicates that declines may continue. At this point, it is important for investors to carefully monitor market movements and adjust their positions accordingly.
The altcoin market is greatly affected by the declines experienced by Bitcoin. Especially if Ethereum falls below $ 3,100, the negativity in altcoins may increase. However, the medium-term market outlook still paints an optimistic picture. When looking at past data, it is observed that the positive movements seen in November generally continue in December. The halving processes in 2020 and 2016 are among the examples supporting this situation.
Investors are advised to pay attention to overbought levels and price divergences in RSI data in the future. Such signals can provide valuable clues about the direction in which market movements may evolve. In addition, historical pullbacks to previous peaks continue to be an important indicator for investors.
Most analysts emphasize that Bitcoin’s long-term outlook remains strong, while short-term fluctuations should be viewed as part of the high volatility. However, there is also a significant caveat that investors should increase their risk management and market monitoring.