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▲ Bitcoin (BTC) drop, Dollar (USD)/ChatGPT generated image
Bitcoin (BTC) fell to the $75,000 mark, spreading selling pressure across major virtual assets. Market sentiment appears to be rapidly shifting from 'neutral' to 'fear'.
According to U.S. economic media outlet Benzinga, Bitcoin fell to around $75,000, while Ethereum (ETH) and XRP also recorded drops of approximately 3% each. This decline is analyzed as a result of investors reducing their risk exposure and scaling back positions.
Rapid liquidations also occurred in the derivatives market. Over the past 24 hours, more than 179,000 traders were liquidated, with the total liquidation volume reaching approximately $674.74 million. This is interpreted as a concentrated clearing of leveraged positions during a period of short-term overheating.
In the market, whether Bitcoin holds near its key short-term support level is identified as a crucial variable that will determine its future direction. Some analysts view the approximately $75,900 range as a short-term defense line, analyzing that if this level is maintained, the current structure could be preserved. Conversely, if that range collapses, the possibility of retesting the bottom of the ascending channel is raised.
Another analysis presented approximately $74,500 as a significant turning point. If this price level breaks down, the upward trend could weaken; conversely, if it holds, there is potential for the additional upward structure to be maintained.
Bitcoin, after recently rising to around $79,000, has seen its momentum slow down and has transitioned into a sideways trend. Selling pressure has emerged in each upward phase, limiting short-term direction, and the market is gradually entering a wait-and-see phase.
Ultimately, this decline is interpreted not as a simple price correction but as a structural movement combining leverage reduction and a shift in sentiment. Investors are closely monitoring future market trends, focusing on whether key support levels hold and the potential for further liquidations.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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