Bitcoin's current market situation is quite uncertain, and opinions are divided. The current price is around $95,855, with a 0.09% increase. However, some analysts believe we're in a "bear market regime" due to the recent price drop below $95,000 ¹ ².
*Key Factors Influencing Bitcoin's Price:*
- _Federal Reserve's Interest Rate Decisions_: Uncertainty around rate cuts is affecting investor sentiment. - _Market Sentiment_: The Crypto Fear and Greed Index is at 22, indicating extreme fear. - _Long-term Holders' Behavior_: Over 400,000 BTC were sold by long-term holders in October, contributing to the price drop ³ ².
*Analysts' Perspectives:*
- 10X Research suggests Bitcoin is in a bear market, with a potential downside risk of 30% or more. - Bitfinex analysts view the current situation as mid-cycle consolidation rather than a bear market. - CryptoQuant CEO Ju Ki-young considers $94,000 a critical support level ² ⁴ ⁵.$BTC
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