Bitcoin Drops to $80,000
For the first time since this round of market activity, it has fallen below the bull-bear line, with the fear index dropping to 20
Why has there been a continuous decline recently?
The total market value of cryptocurrencies has fallen below $2.8 trillion, currently reported at $2.746 trillion, with a 24-hour decline of 8.4%.
Although it has repeatedly fallen below the 200-day bull-bear line during intraday trading in the past period, it has always recovered by the close. This time is different from the past; the daily line has completely broken down. From a technical perspective, a breakdown indicates an entry into a bear market.
In fact, Bitcoin entered a bear market when it was at $110,000; you just didn’t feel it at the time.
There is a saying: sell when people are clamoring, buy when no one is paying attention.
At this moment, panic sentiment is intensifying, with no excess funds entering the market and no better narrative; the market is still in a period of consolidation.
When trading, one shouldn’t have a limited perspective; take profits when they are available, think with a bear market mindset.
Those who entered the market earlier with short positions on ADA, Kaito, Shell, and MKR are continuing to profit.
The team opens positions every day.
Continuously making profits.
Fans come first.
Come on.
Welcome to join us.
Focus for today: SOL, XRP, BNX, ORDI
