Bitcoin price is under pressure, and may face a massive crash in the future

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The price of Bitcoin has continued to fall recently, and has performed weakly in the past two weeks, and has now fallen to $95,120. This has caused concerns among cryptocurrency enthusiasts, and many have begun to worry about a possible massive crash in the future. Ali Martinez, a well-known cryptocurrency analyst, mentioned that several well-known people in the industry have warned that the price of Bitcoin may fall to $60,000.

Falling below $95,000 may trigger further declines

Ali Martinez emphasized the views of Tone Vays, a well-known cryptocurrency analyst. Vays warned that if the price of Bitcoin falls below $95,000, it may trigger a sharp correction, and the target price may drop to $73,000. As the price falls, some investors have begun to prepare for this possibility.

Exchange fund inflows intensify

In the past week, more than 33,000 bitcoins (worth about $3.23 billion) were transferred to exchanges, indicating that traders may be preparing for further declines. This increase in inflows could be a reflection of the market’s expectation of further declines in Bitcoin.

Concerns about a repeat of the 2018 crash

Another point of view worth noting comes from veteran trader Peter Brant, who predicted the 2018 Bitcoin crash. Brant is concerned that Bitcoin could fall below the key technical pattern of an extended triangle, leading to a price drop to around $70,000.

Current market volatility and investor responses

Despite the uncertainty facing the market, it is interesting to note that on December 23, Bitcoin’s trading volume surged, recording more than $7.1 billion in profits. This suggests that some traders are taking advantage of the current volatility, perhaps trying to profit from short-term fluctuations.

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