Geopolitical events push crypto market intoconcerning state.
Amid this, an ETH whale moves 26,256 ETH worth $59.65 million ETH from Binance.
Analysts prepare for major dips before bullish return.
Analysts turn wary as geopolitical events push the crypto market into a concerning state. A reputed silver-tongued analyst warns the crypto community of short-term brutal price dips that could take the price of BTC to the $82,000 price range in the coming weeks ahead. Meanwhile, a newly created wallet withdrew 26,256 ETH worth $59.64 million from Binance in an exciting move.
Geopolitical Events Push Crypto Market Into Concering State
The past two weeks have been a lead-up to what one analyst expects to be dark days ahead for the crypto market. The rapid rise of conflict between Israel and Iran over the past few days led to a full week of volatile activity in both the financial and stock markets. This led to the price of Bitcoin (BTC) falling from the $108,00 price range to the $102,000 price range, taking BTC close to its previous ATH price at the $111,000 price range to what could be much lower price targets in the coming weeks ahead.
Presently, analysts are playing it very cautious when setting up their trades. To highlight, reputed silver-tongued analyst, Doctor Profit, had been setting up hedge trader to preserve capital the previous week. He also set up multiple short trades to make the best out of a volatile market. He even revealed taking profits completely and turning all his holdings to USDT, waiting for the market to settle before going on to buy back when the market provides a suitable opportunity for entry.
The analyst even expresses how he believes market makers will begin to manipulate the price of BTC to send the market sentiment into the extreme fear zone. This, he expects, will play perfectly into the rising narrative of the growing geopolitical concerns escalating into the possibility of war. Once an extreme fear market sentiment arrives, this is when he will likely enter the market once again.
https://twitter.com/DrProfitCrypto/status/1936777067703488596
As we can see from the post above, Doctor Profit highlights how the market looks absolutely concerning. With news about the closure of the Strait of Hormuz, one can expect Oil to rally big, leaving the stock and crypto markets in red. He also adds that unfortunately, further escalation looks more than programed, and he expects greater dips ahead with the price of BTC falling to the $82,000 to $93,000 price range.
ETH Whale Moves 26,256 ETH From Binance
https://twitter.com/lookonchain/status/1936718617107955901
Meanwhile, sentiments for a bullish altseason seem to be delayed even more than expected, leading to FUD sentiment brewing within the greater crypto market. Despite this, it looks like many are taking this as an opportunity to accumulate more promising assets to prepare for the eventual, and inevitable, price pump. As we can see from the post above, this one ETH whale created a new wallet and withdrew 26,256 ETH worth $59.64 million from Binance.
