Does the fall of Bitcoin present an opportunity?
Having fallen below $74,000, Bitcoin is showing some signs of calm, but buyers remain discreet. For Théo, from Crypto Stratège, the decline can offer a medium-term entry point. In the short term, a break of $73,700…
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https://cryptoast.fr/bitcoin-sous-75000-dollars-vendeurs-epuisent-cryptoquant/
Bitcoin (BTC) fell to $73,477 late Sunday, its lowest level since August, before briefly rebounding above $75,000. In 24 hours, $1.12 billion in leveraged positions were liquidated across the entire crypto market, according to CoinGlass.
This drop could represent a buying opportunity, betting on a rebound over the coming weeks. For Théo, from Crypto Stratège, everything first depends on the ability of Bitcoin to maintain itself at current levels.
Bitcoin's decline may provide an opportunity in the medium to long term, but in the short term the risk of entering too early remains high. On a daily basis, the trend is clearly bearish. However, we see buyers showing up around $73,700, which opens the door to a rebound. If this level gives way, the area between $60,000 and $66,000 seems to me to be the most likely target.
If you are unsure about the right time to enter Bitcoin, Crypto Stratège offers a free 45-minute assessment to better invest.
According to CryptoQuant, short-term holders sent approximately 9,900 BTC to the platforms whose price was below their purchase price on November 9, compared to 32,695 BTC three days earlier. These transfers therefore fell significantly even as Bitcoin hit a new low.
This movement suggests a slowing down of selling pressure among these investors, even if transfers to platforms do not always lead to sales.
Bitcoin: Rising Short-Term Holder Losses Amid Declining Exchange Inflows
“Bitcoin continues to face downward pressure, with losses among short-term holders increasing.” – By @MAC_D46035 pic.twitter.com/vDM72ekADV
Glassnode notes at the same time a decline in spot demand and still high leverage on futures contracts. US spot Bitcoin ETFs saw $201 million in net outflows on Monday, following $1.28 billion the previous week.
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- Cryptoast10 Nov, 16:00
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