الجني_الطيب
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Bearish
What's happening in the market? Bitcoin has dropped below 100k and Ethereum is at 2200
Today the whole market flipped suddenly, and we saw a significant drop in cryptocurrencies, starting with Bitcoin, which fell below the 100k dollar level for the first time in over a month. Ethereum also dropped below 2200 dollars.
The main reason is the political tensions, specifically after Iran hinted at the possibility of closing the Strait of Hormuz, which is a very important maritime route through which about 20% of the world's oil passes. The market has entered a state of fear, and investors have started to shy away from risk, leading people to sell their cryptocurrencies.
Additionally, the U.S. struck nuclear sites in Iran, making things heated since morning, and Ethereum took a stronger hit because of this. Also, many options contracts expired yesterday, which clearly increased selling activity.
From a technical analysis perspective, Bitcoin might find support around 97k, and if it drops further, people will start looking for new buying opportunities. As for Ethereum, support is around 2100 dollars, and if it holds, we might see a slight rebound.
If you are a long-term investor, this could be a good opportunity to gather some crypto at lower prices. But you must be cautious, always set a stop-loss, and keep up with the news.
The market is very sensitive right now, and nothing is certain… Stay alert and look for opportunities when everyone is afraid!
$BTC
Today the whole market flipped suddenly, and we saw a significant drop in cryptocurrencies, starting with Bitcoin, which fell below the 100k dollar level for the first time in over a month. Ethereum also dropped below 2200 dollars.
The main reason is the political tensions, specifically after Iran hinted at the possibility of closing the Strait of Hormuz, which is a very important maritime route through which about 20% of the world's oil passes. The market has entered a state of fear, and investors have started to shy away from risk, leading people to sell their cryptocurrencies.
Additionally, the U.S. struck nuclear sites in Iran, making things heated since morning, and Ethereum took a stronger hit because of this. Also, many options contracts expired yesterday, which clearly increased selling activity.
From a technical analysis perspective, Bitcoin might find support around 97k, and if it drops further, people will start looking for new buying opportunities. As for Ethereum, support is around 2100 dollars, and if it holds, we might see a slight rebound.
If you are a long-term investor, this could be a good opportunity to gather some crypto at lower prices. But you must be cautious, always set a stop-loss, and keep up with the news.
The market is very sensitive right now, and nothing is certain… Stay alert and look for opportunities when everyone is afraid!
$BTC
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