Bitcoin is on a move, but to where 🤔?

[barbara44]

OP, it is seems that you already answered your own question there. That strong selling pressure you first said, is also the ones that making the Bitcoin to be on a bearish angle. Speaking of angle, another angle we can look at is when you said that traders and investors are in fear. But if you mean the reasons behind these? Then we have plenty of it. It can be because they see that news about Michael Sailor selling a big amount of Bitcoin.

Or, it can be because of the extended war. It can also be because of the extended bear market. Then we have the continuous hackings. There is also that AI that is making a threat in cryptos security. There can be more to this that I forgot or don't see yet. I think the drops and the panic selling can continue.

[Oshio-man]

Is like op don't know that bullish and bearish are strong sign that makes buyers and sellers to know the season we are in the decentralized market, how many investors are ready to release their bitcoin? this is where you will know that investors are not smiling in this current decrease because they can't sell their bitcoin to make a good income than to continue holding and watch the market, at this point now is for those investors waiting for bearish season to appear before they can buy which is the season we are now because is not advisable to sell bitcoin.

[Jegileman]

Bitcoin is not showing any sign that it is going to stop falling, all the signs it is showing is that it’ll be on a continuous downward movement for now. The bullish momentum in the market now is very strong and as such not showing any sign of slowing down or consolidating. I feel if traders and investors have better understood how this market works, they’ll most likely not panic and allow the market do its thing before everything turns back to normal in the market.

[Just Say]

We are in the bear season, don't be too optimistic about the price of bitcoin making a recovery after a correction was made as a result of selling pressure. We can't figure out exactly if the price of bitcoin will rise again in the upcoming weeks because there is the possibility of it experiencing more fall further below $60k which can be a good buying opportunity at a cheaper price.

We are definitely still in the recessionary period and a few days ago a major Bitcoin corporate holder company sold some Bitcoins, which increased the selling pressure among investors due to panic, which led to the price of this coin falling further below the $60,000 range. However, it seems that this situation can continue if people continue to panic and do not have the strong mentality to hold on. It should be remembered that many investments fail from the beginning of fear, so it seems to me that when the market suddenly turned negative due to the sale of Bitcoin by strategy and other investor, perhaps experienced investors held on to their investments patiently and tried their best to stay strong.