86K and going down!

[Findingnemo]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

I am not a fan of speculation just interested to hear the analysis made according to the situation.

[Crypto Library]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

I am not a fan of speculation just interested to hear the analysis made according to the situation.

I think whale are playing game here for liquidations of the mass from market I mean they want to spread the panicking in the market and that force to the peoples and have some bitcoin in dip from peoples.

I am also not a expert but from my experience in this crypto world I understand this the whale want to take this market on that limit and then start the next pump. But range could be 78k up at least which is enough to make the panic seller sell.

[TryNinja]

Yes, pure speculation which you're not a fan of, but I've heard people saying that Bybit and Binance are crashing the market to liquidate people and fill the whole caused by the $1.5b hack that Bybit suffered this last week. Does it make sense? I'm not sure, I can't read the data... but here are the first tweets about it:

https://x.com/martypartymusic/status/1894199752754901366
https://x.com/beaniemaxi/status/1894452461361938460

Then Bybit's CEO came defending himself: https://x.com/benbybit/status/1894200705335923167

[Findingnemo]

I've heard people saying that Bybit and Binance are crashing the market to liquidate people and fill the whole caused by the $1.5b hack that Bybit suffered this last week. Does it make sense? I'm not sure,

Kinda, they have to fill the hole so might pulled this move. Why bear the loss when you have pathetic, desperate people are there in the space, just make use of them.

Weak hands/panic sellers always make the wrong move to make the rich more richer.LoL

[debra]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

Yes, market is declining very badly. Today, the lowest price of Bitcoin is around $82k. If this continues, it is not impossible that the price to drop below $75k. However, I still don't hope that the price will drop more below $80k because it will be a strong sign for the bearish season if we drop to $70k. To be honest, I'm quite surprised that the market easily drops like this. I heard that many people who sold for loss.

[Findingnemo]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

Yes, market is declining very badly. Today, the lowest price of Bitcoin is around $82k. If this continues, it is not impossible that the price to drop below $75k. However, I still don't hope that the price will drop more below $80k because it will be a strong sign for the bearish season if we drop to $70k. To be honest, I'm quite surprised that the market easily drops like this. I heard that many people who sold for loss.

Well we're at 65K range before 120 days so if someone entered the market after that and already lost confidence then it's their wrong decision because investments are supposed to be long term not a month or two and we can expect 2x returns which I am not saying possible but they should have done their research before jumping in.

[pawel7777]

So everyone seems to be blaming Trump and his confirmation of the plan to impose 25% tariffs on the EU, which spoofed the market badly. I'm not convinced this is the case. Maybe it was just a catalyst for the market to take a stance and more money decided to head for the exit.
None of the most popular indicators would suggest the $109 was the peak of the cycle and that we entered a bear market, but, during the past cycles' tops, most also believed we were still to go up.
To me it looked like the price were artificially held down, as if someone tried to hold it down below $100k. The result was like 3 months of sideway action, aka accumulation phase, which was not what we would see in the prior cycles. So it's a possibility that it was not accumulation, but the actual peak of the hill.
At the same time, 20%-30% dips in the past cycles were not uncommon, so maybe it's just one of such cases. If we go down to low $70s, to me, that would be a sign of the bear market being over.

[LogitechMouse]

---
So what's your analysis now, will it go down to 70-75K range?

I am not a fan of speculation just interested to hear the analysis made according to the situation.

Right now, I'm looking at the 2 key indicators that can say if we will go down or not.
The 21 and 34 Weekly EMA.

Right now, the price of Bitcoin is below 21 EMA, and touched the 34 EMA, but bounced back from it. We must see Bitcoin ending this week above the 21 weekly EMA to continue the bullish trend. If we will see Bitcoin closing the week below 21 EMA, there's a high possibility that we might see a reversal, and if we see it going below 34 EMA, and staying it for some time, brace for impact because the chances of the reversal is even higher.

I said that I'm bullish with the market since we are in a bull market season as well, but we know that anything can happen including what's happening right now.

[milewilda]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

I am not a fan of speculation just interested to hear the analysis made according to the situation.

If it breaks $84-85k then we might be seeing 80k or even more lower. Yes, the recent bybit hack has nothing to do with this and this what makes this market truly that unpredictable yet it could really be able to make out some movements without having any sentiments behind on which you can really be able to say that its never been a predictable space. You would definitely be having that   having realizations at the time that you had that true experience towards on how this market moves. We do know that it wont be called a market in the first place if it wont really be having that ups and downs. We do know that crypto market is really that volatile and totally unpredictable on which theres no TA or FA will be able to spot out or able to predict on where prices could go. This is why its recommended to set out SL's time to time or if you are active then you can manual close positions.

[rdluffy]

Yes, pure speculation which you're not a fan of, but I've heard people saying that Bybit and Binance are crashing the market to liquidate people and fill the whole caused by the $1.5b hack that Bybit suffered this last week. Does it make sense? I'm not sure, I can't read the data... but here are the first tweets about it:

https://x.com/martypartymusic/status/1894199752754901366
https://x.com/beaniemaxi/status/1894452461361938460

Then Bybit's CEO came defending himself: https://x.com/benbybit/status/1894200705335923167

It makes sense to me, there's a lot of movement from exchanges lately but there's lot of exits from ETFs too
Looks like they liquidated almost all longs in the market

I don't think ordinary users like us are selling, but big players are

78k reached today hehehe

[target]

Yes, pure speculation which you're not a fan of, but I've heard people saying that Bybit and Binance are crashing the market to liquidate people and fill the whole caused by the $1.5b hack that Bybit suffered this last week. Does it make sense? I'm not sure, I can't read the data... but here are the first tweets about it:

https://x.com/martypartymusic/status/1894199752754901366
https://x.com/beaniemaxi/status/1894452461361938460

Then Bybit's CEO came defending himself: https://x.com/benbybit/status/1894200705335923167

It makes sense to me, there's a lot of movement from exchanges lately but there's lot of exits from ETFs too
Looks like they liquidated almost all longs in the market

I don't think ordinary users like us are selling, but big players are

78k reached today hehehe

I'd not be wondering why they are doing if they lost lots of money because of the hack then they will find a way to cover the loss and will also pay the bounty to get back those hacked ETHs. It also have a purpose because those hackers will not be able to make huge pay if the prices dips low which means they actually didn't lost $1.4B.

Anyway, it already happening and there is no way of stopping it. We'll just as well be watching the market and let it crash.

[Mr. Magkaisa]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

I am not a fan of speculation just interested to hear the analysis made according to the situation.

        -      Well, we have the same technical analysis as seen in Bitcoin, that's what I see, the deepest it can touch down is at 70 000$ up to 75k$, though some of our companions here may be doubtful about what I'm saying, but that's okay because this is my opinion and my own analysis.

But if there is sudden good news in the crypto space or in bitcoin, it may not happen as I said, which you also thought.
So, I also agree with what you're saying, mate.

[PX-Z]

For the past couple of days the market bleeds unstoppable, Bitcoin affected a lot even though Bybit hack has nothing to do with Bitcoin. So what's your analysis now, will it go down to 70-75K range?

Exchange hacking incident always have to do indirectly on bitcoin's price, you can observed it on the past incidents, worst is this one is the largest in history. The FOMO of the exchange users, news, traders has a massive factor on why price go dump for this few days. I hope it won't go far fetch downward this time, going back to $50k~ish

[yhiaali3]

It's good that we stopped before reaching the $70-75k range, I think the lowest price Bitcoin reached was $79k and now it started to recover a little bit at the moment and rose to $84k.

Of course this does not mean that the correction is over, we may witness other waves of correction and we may reach lower levels, but I like to be optimistic and hope that this is the end of the correction and the start of the rise again to touch the old price.

Of course there are many reasons that caused the market to bleed, but I am very hopeful that Bitcoin will return stronger than before.

[electronicash]

as much as we want to be optimiztic with this dip, i can't get my heads to think the worse could come and the bears will just be ruling the market while the stolen funds from bybit hasn't been recovered.

rumor was that its bybit and binance manipulating the market to dip until everyone panics. and they got what they wanted. we shall see what will happen in the next 3 to 5 months if the market could still rise.