Bitcoin fell 6% in one day, price retreats to the $95,000 mark;
Coinbase Premium Index shows increased demand since December 17;
#Bitcoin technical analysis shows strong resistance;
Bitcoin USD has had a turbulent start to the New Year. has had a turbulent start to the New Year, falling 6% in the last 24 hours to below $96,000, but now the index is showing an uptick in demand.
This drop is one of the biggest in recent weeks, and traders and investors are trying to figure out why it happened. And they are. Earlier, bitcoin briefly crossed the $100,000 mark, but was unable to sustain that momentum, leading to a sell-off and bearish market sentiment.
the entire #cryptocurrency market is on edge, with bitcoin's fall pulling other major assets with it.
for example, Ethereum has also fallen sharply. In general, the cryptocurrency market fell by about 6%. According to analysts, the main reasons for the fall of bitcoin were macroeconomic problems and profit taking on high prices.
Despite the volatility of bitcoin prices, the #Coinbase Bitcoin USD Premium Index for the first time since December 17 showed a positive result, indicating that U. S. investors
Coinbase Premium Index is calculated as the difference between the price of Bitcoin USD on the U. S. exchange Coinbase and the global exchange #Binance . A positive premium means high demand from U. S. buyers.
It is worth noting that this is due to the recent bearish trend in the market. The positive premium indicates that U. S. investors are viewing the $95,000 price level as an opportunity to buy higher as market sentiment has generally declined.
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