Bitcoin Data Reveals No Significant Panic Selling In The Market – Shakeout Or Trend Shift?
2024年12月19日 - 11:30PM
NEWSBTC
Bitcoin faced a sharp retrace yesterday, dropping 8% from its
all-time high of $108,300 after the Federal Reserve announced a 25
basis point rate cut alongside a revised policy signaling fewer
cuts in 2025. Despite the drop, Bitcoin managed to hold above
$98,000, a critical liquidity level that analysts are closely
monitoring. Related Reading: On-Chain Metrics Reveal Cardano Whales
Are ‘Buying The Dip’ – Details This recent price action raises a
pivotal question: is this the start of a more significant
correction or merely a shakeout to fuel the next leg of Bitcoin’s
rally? CryptoQuant analyst Axel Adler provided key insights, noting
that no substantial panic selling is evident in the market—a signal
that investor confidence remains intact for now. Bitcoin’s
resilience at current levels suggests the market is recalibrating
following the Fed’s latest moves. As traders and investors digest
these developments, all eyes are on whether Bitcoin can recover
momentum and push back toward its previous highs or if deeper
retracements are on the horizon. With market sentiment hanging in
the balance, the coming days will be crucial in determining
Bitcoin’s next direction. Bitcoin Remains Strong Despite the recent
dip and a noticeable shift in market sentiment, Bitcoin remains
resilient above key liquidity levels, maintaining its long-term
bullish structure. The price drop, sparked by broader market
reactions to the Federal Reserve’s policy announcement, has raised
concerns, but Bitcoin’s ability to hold critical support
underscores its underlying strength. Top CryptoQuant analyst Axel
Adler recently shared data on X, shedding light on the market’s
current dynamics. According to Adler, no significant panic selling
is evident, even after Bitcoin’s sharp decline. He
highlighted a chart tracking the BTC short-term holder profit-loss
to exchanges, revealing that this metric is currently at a higher
level than seen during early December selling events. This
indicates that the recent sell-off may have been less driven by
fear and more of a strategic shakeout. This shakeout could serve to
generate liquidity and provide the necessary momentum for Bitcoin’s
ongoing rally. However, he also cautions that this could mark the
beginning of a broader correction that might take time to fully
develop. Related Reading: Solana Bull Flag Signals A Breakout To
$300 – Analyst Shares Key Levels The coming weeks will be pivotal
for Bitcoin. As the market stabilizes, traders and investors are
watching whether Bitcoin can reclaim higher levels or if further
downside consolidation is on the cards. Price Action: Technical
Levels To Hold Bitcoin is currently trading at $101,800, following
a successful test of local demand at $98,695 earlier today. The
price structure remains intact, with Bitcoin forming a clear
pattern of higher highs and higher lows, signaling sustained
bullish momentum. Despite the recent volatility, the market
sentiment continues to lean optimistic as BTC holds above critical
support levels. For Bitcoin to maintain its upward trajectory, a
decisive push above $103,600 is essential. This level served as a
significant pivot last week, marking a key zone for both buyers and
sellers. Breaking through this resistance would likely signal
renewed momentum, setting the stage for further gains as Bitcoin
eyes new highs. However, failure to break above $103,600 could lead
to a shift in sentiment. If BTC also loses the $100,000
psychological level, it would likely confirm the start of a broader
correction. Such a scenario could drive the price toward lower
support zones as the market recalibrates. Related Reading: Ethereum
Whales Load Up: Bullish Sign Or Bear Trap? The next few days will
be crucial in determining Bitcoin’s near-term direction. Traders
are closely watching the $103,600 resistance and $100,000 support
levels, as these thresholds will dictate whether BTC continues its
rally or enters a corrective phase. Featured image from Dall-E,
chart from TradingView
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