CoinVoice has recently learned that according to Cointelegraph, analysts warn that Bitcoin may see a "huge sell-off" as it fails to break through key resistance levels. Bitcoin has fallen 15% after hitting an all-time high of about $108,365. As USDT market share rises, analysts predict that Bitcoin may face further downward pressure. Analyst The ForexX Mindset pointed out that the rebound in USDT market share (USDT.D) and the negative correlation with Bitcoin may trigger a sell-off.
Currently, Bitcoin is trading close to $96,000. If it corrects further, its downside target could be the 20-week exponential moving average (EMA), which is around $81,500. If it falls below this level, it may test the 50-week EMA, which is around $67,700. [Original link]
