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▲ Bitcoin (BTC) decline, Dollar (USD)/ChatGPT generated image
Bitcoin (BTC) has fallen to the $75,000 level, spreading selling pressure across major virtual assets. Market sentiment appears to be rapidly shifting from 'neutral' to 'fear'.
According to U.S. financial media Benzinga, Bitcoin dropped to approximately $75,000, and Ethereum (ETH) and XRP also recorded declines of around 3% each. This decline is analyzed as a result of investors reducing their risk exposure and scaling back positions.
Rapid liquidations also occurred in the derivatives market. Over the past 24 hours, more than 179,000 traders were liquidated, with the total liquidation volume reaching approximately $674.74 million. This is interpreted as a concentrated clearing of leveraged positions during a short-term overheated state.
In the market, whether Bitcoin holds near its key short-term support level is identified as a crucial variable that will determine its future direction. Some analysts view the approximately $75,900 range as a short-term defense line, and if this level is maintained, the current structure could be preserved. Conversely, if this range collapses, the possibility of retesting the bottom of the ascending channel is raised.
Another analysis presented approximately $74,500 as a significant turning point. If this price level breaks down, the upward trend could weaken, while if it holds, there is a possibility that the additional upward structure could be maintained.
After recently rising to around $79,000, Bitcoin's momentum has slowed, and it has shifted into a sideways trend. Selling pressure appearing at each upward interval is limiting its short-term direction, and the market is gradually entering a wait-and-see phase.
Ultimately, this decline is interpreted not as a simple price correction but as a structural movement combining leverage reduction and a shift in sentiment. Investors are closely watching future market trends, focusing on whether key support levels hold and the possibility of further liquidations.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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