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#BREAKING 📊Greeks-Bitcoin Could Trigger Large-scale Sell-off If It Drops Below $92,000, Current Market Prepares for CPI Reversal
📢 Analyst Adam from Greeks.live announced on social media that in the short term, the community generally has a bearish outlook for
$BTC The key support level that the market is closely observing is the $95,000 level that was tested overnight. The range from $92,000 to $94,000 is regarded as an important support area. Once it is breached, it could "trigger a massive sell-off.
However, a large buy order of 900 bitcoins was discovered at the current price level. There is a "price vacuum" existing up to $98,000, indicating that a rapid market movement may occur. It is worth noting that in the options market, traders are adjusting the strike price of their call options from $100,000 to $97,000 and closing out put options at $95,000 before the release of CPI data$.
Additionally, there is observed selling pressure mainly in perpetual contracts. But at the close of the U.S. trading session, signs of short covering appeared, indicating the possibility of a potential reversal around the CPI release.
$BTC #USCPIWatch