Bitcoin

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<ul>
 <li>In a recent analysis, a renowned crypto analyst sounded the alarm bells as Bitcoin (BTC) fell below a critical supply zone, specifically between $41,200 and $42,400, raising concerns about potential sell-offs.</li>
 <li>This drop has increased worries about potential sales as owners might try to reduce their losses by increasing selling pressure.</li>
 <li>Another warning indicator, including another noteworthy condition, stems from a gap in the Bitcoin futures chart on CME.</li>
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<p><strong>Bitcoin price showed a critical decline at the beginning of the week: Will the decline for BTC continue? What’s next? Current data!</strong></p>
<h2 id="strong-bitcoin-price-to-experience-further-declines-strong"><strong>Bitcoin Price to Experience Further Declines?</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126523" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>In a recent analysis, a renowned crypto analyst sounded the alarm bells as Bitcoin (BTC) fell below a critical supply zone, specifically between $41,200 and $42,400, raising concerns about potential sell-offs. Using on-chain data from IntoTheBlock, the analyst pointed out that in this risky zone, 1.87 million addresses, holding 730,000 BTC, have accumulated.</p>
<p>This drop has increased worries about potential sales as owners might try to reduce their losses by increasing selling pressure. The analyst warns of a potential drop to the next demand zone, between $37,500 and $38,700, where 1.28 million addresses, holding 553,000 BTC, are located.</p>
<p>However, despite these warnings, a two-sided situation arises. The analyst’s analysis indicates that profitable buyers are concentrated about 7% below the current market levels. In this case, the question arises: Will buyers show interest in a pullback towards $38,700 when owners in losses start selling, and the market reverts to a chaotic state where unexpected “black swan” events are always possible?</p>
<h2 id="strong-cme-gap-strong"><strong>CME Gap</strong></h2>
<p>Another warning indicator, including another noteworthy condition, stems from a gap in the Bitcoin futures chart on CME, and such gaps are usually expected to be filled, strengthening the likelihood of a descent towards $37,500 as part of a general decline. If history repeats itself, this gap could be filled as part of a bearish move, reinforcing the probability of a descent towards the $37,500 mark. Bulls are holding on tightly, but upcoming challenges could subject their resilience to an unlimited test.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/investors-beware-bitcoin-price-could-drop-to-these-levels-heres-why/">Investors Beware: Bitcoin Price Could Drop to These Levels! Here’s Why!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Investors Beware: Bitcoin Price Could Drop to These Levels! Here’s Why!

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