BTC “Bull Market” Analysis - Cointelegraph
Bitcoin dipped as low as $89,000 recently. A number that hasn’t been seen since April of this year. Reactions from traders are conflicting varying from bearish to a potential bullish rebound. A crypto trader on X known as Bitbull stated “Binance whales have placed big buy orders between the $88,500-$92,000 level.” Another crypto trader by the name Crypto Tony on X stated “I was stopped out of my short in profit. Now I am looking for shorts up at key levels. $106,000 - $108,000 look attractive.”
How it impacts you? We witnessed Bitcoin go from an all-time high of $126,000 to come crashing back down to Earth to $89,000. Personally, this has been the most confusing “bull-run” I’ve ever experienced and many of us are perplexed. Economic uncertainty (tariffs, Fed Rate cuts, jobs data, etc.) play a massive role in this, and maybe—this was foreseen coming but we chose to ignore it, including myself. From the chart below, you can see we are in the extreme fear territory at a value of 15, which hasn’t been this low since February of this year. Technically Bitcoin and Crypto should go up based on the “Fear & Greed Index”, right? Hard to tell though based on what’s transcended these past few months. Whatever your next move is DYOR: Do Your Own Research (please).
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