🚨 RED ALERT ON #BITCOIN ! 🩸 "WEAK HANDS" SELLING MASSIVELY: WILL #BTC FALL BELOW $100K? 😱📉
📢 This week in Bitcoin has been a silent roller coaster, but CryptoQuant's on-chain data has revealed a bombshell: 15,000 BTC in the hands of "short-term holders" (STH) were moved at a LOSS this week! 📉 This has raised alarms and increases the possibility that the price of $BTC will plummet below $100,000. 💸
While the conflict in the Middle East and the uncertainty from the Fed keep many on the sidelines, the so-called "weak hands" have entered a panic. 😬 On Wednesday, 16,700 BTC were transferred to exchanges at a loss, coinciding with a drop from $106,500 to $103,500. This classic behavior of STH selling in desperation is a concerning signal, but beware: this aggressive selling is being mostly absorbed by "long-term holders" (LTH), the "strong hands" that could be laying the groundwork for a recovery! 💪
However, the outlook is not entirely rosy. According to Swissblock, Bitcoin is navigating a "blind spot" in the market, with persistent selling pressure suggesting a possible extension of the drop before a significant rebound. Get ready! On-chain data signals a key support range between $97,000 and $94,000 for short-term holders. This could be the local bottom, clearing liquidation levels below $100,000 and re-testing important zones.
🤔 Do you think this massive sell-off is an unavoidable signal that Bitcoin will fall below $100,000 in the short term, offering a last buying opportunity before a rebound? 👇💬
