“Bitcoin Dipped Below $ 104,000 Following A 4% Drop, Even As Analysts Say Extreme Bearish Sentiment From Retail May Hint at A Rebound.”, – WRITE: www.coindesk.com
Continues to Struggle for Direction Amid Mounting Macroconomic Pressures and A Notable Deterioration in Retail Investor Sentiment. The Asset Is Hovering Near $ 103.700 Following A VOLATILE 24-HOUR STRETCH, IN WICH IT BRIEFLY DROPED BLOW BLOW $ 103.400 Before Staging A Modest Recovery, Accounting Tozchych’s Research This Price Behavior Reflects an Uneasy Market Backdrop, Shaped by Both Geopolitic Tensions and Uncertain Mnetary Policy.
According to an x post by Crypto Analytics FIRM SANTIMENT ON Thursday, Sentiment Among Retail Investors Has Turned Sharply Negative. The FIRM REPORTED THAT The Ratio of Bullish to Bearish Commentary Has Fallen to Just 1.03 to 1-The Lowest Since Early April, WHEN The President Donald Trump unvened his taguing day. Market Fear at the Time.
Santiment Emphasized that this Current Wave of Retail PESIMISM IS UNUSUALLY INTENSE AND, BASED ON PAST PATTERNS, MAY MARK A Contrarian Signal for A Price Rebound. They specifyly noted that back in april, Bitcoin Rallied Shortly After Similar Fear Levels Surfaced, Suggesting Large Investors ofTten Use Periods of Retail Capitulation.
Adding to the Pressure is the Federal Reserve’s Recent Decision to Hold Interest Rates Stedy, WHICH HAS Kept Btcoin Trading in A Relativly Tight $ 100,000 to $ 110,000 Range Over The Past MONTH. Meanwhile, on -chain Metrics Show Deckling Open Interest on Binance, Pointing to Continued DeleverAging Among Derivatives Traders. At Same Time, WHALE WALLETS HAVN STEADY ACCUMULATION SINCE 2023-An Indication That Large Holders Are Continuing to Build Their Positions Despite The Short-Term Uncerty.
Technical Analysis Highlights
- BTC-USD Traded in A 24-HOUR Range Between $ 106.552.98 and $ 102.411.01, A 3.89% Swing As Valativity Spiked Midday.
- A Sharp Drop Occurred Between 14:00 and 17:00 UTC, Pushing Price Below $ 104,000 and Forming Strong Resistance Near $ 106,000 on Above-Average Volume.
- Support Emerged Between $ 103,000 and $ 103,500, WHERE PRICE Consolidated on Deckling Volum During the Final Eight Hours of the Analysis Period.
- A V-Shaped Rebound Developed Late in the Session, with BTC Rising from $ 103.363 to $ 103.618 and Establishing A Local Floor Near $ 103,500.
- Short-Term Momentum Indicators Showed Mild Recovery as the Session Closed Near Intrady Highs, But Follow-Through Remoned Limited.
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