[2024-01-23] Bitcoin’s Price Plunge and Crypto Market Turbulence

[CoinTürk]

Bitcoin’s price has experienced a significant drop, falling over 20% since reaching $49,000 on January 11, with a 5% decrease within a single day. Analysts predict a potential decline to $34,000, suggesting further losses could reach up to 30%. CoinGlass, an on-chain crypto data analysis platform, published a heatmap indicating a substantial liquidation at the $34,000 level, confirming analysts’ expectations. The platform also reported $225 million worth of liquidations in the last 24 hours, primarily from Bitcoin and Ethereum long positions.

Read the full article here: https://en.bitcoinhaber.net/bitcoins-price-plunge-and-crypto-market-turbulence

[Oshosondy]

What I can see now is panic sell. It started from FTX GBTC liquidation and people now are selling. I know there is one more bear market before halving, but United States spot bitcoin ETF and its approval confused me, but history is repeating itself again.

For those that are losing, they should not sell. They can by more at low price. Also people that are gaining already can buy more. We are still waiting for all-time-high of 2024/2025