• bitcoinBitcoin (BTC) $ 104,038.00
  • ethereumEthereum (ETH) $ 3,504.37
  • tetherTether (USDT) $ 0.999629
  • xrpXRP (XRP) $ 2.42
  • bnbBNB (BNB) $ 963.96
  • usd-coinUSDC (USDC) $ 0.999805
  • staked-etherLido Staked Ether (STETH) $ 3,506.12
  • tronTRON (TRX) $ 0.298525
  • dogecoinDogecoin (DOGE) $ 0.175535
  • cardanoCardano (ADA) $ 0.572245

BTC and crypto sell-off reminiscent of post-2000 dot-com crash: Analyst

Large, long-term crypto and Bitcoin investors continue to sell into the market, keeping asset prices from hitting a blow-off top.

🔗 Source

💡 DMK Insight

Long-term holders are offloading Bitcoin, and here’s why that’s crucial for traders right now: This selling pressure from seasoned investors suggests a lack of confidence in sustaining high prices, which could prevent Bitcoin from reaching a blow-off top. For day and swing traders, this trend indicates potential volatility ahead, as increased selling could lead to sharp price corrections. If Bitcoin starts breaking below key support levels, it could trigger further selling from both retail and institutional players, amplifying downward momentum. Watch for the $30,000 mark; if it fails to hold, we might see a cascade effect across the crypto market. On the flip side, this could also present a buying opportunity for those looking to accumulate at lower levels. If long-term investors are selling, it might indicate they believe a correction is imminent, but savvy traders could capitalize on short-term dips. Keep an eye on trading volumes and sentiment indicators to gauge when the tide might turn back in favor of buyers.

📮 Takeaway

Monitor Bitcoin’s support at $30,000 closely; a break below could signal increased selling pressure and volatility across the crypto market.

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