Other important data to consider

CoinGlass reported that on the morning of this Tuesday, at least 30 million dollars in long BTC positions were liquidated in just one hour. Meanwhile, 130 thousand excessively leveraged traders lost their positions, and the total value of liquidations in the crypto market rose to 390 million dollars for the day and over 200 million dollars in just one hour.

On the other hand, some analysts pointed out that the bearish pattern "head and shoulders" is completing in the charts, which usually leads to a pullback.

At this moment, we would be in the formation of the last shoulder. Therefore, according to this pattern, the outlook is bearish.

As is common, strong pullbacks drive FUD and this type of analysis, so staying well-informed is key to avoid being swept away by panic.