Bitcoin just crashed below $103K! With a 2.36% drop in 24 hours, traders are panicking—will BTC recover, or is this the start of a bigger dump? According to BlockBeats, Julio Moreno, CryptoQuant’s Head of Research, is urging caution for those considering buying Bitcoin in its current state. Moreno highlighted that the outlook for Bitcoin remains bleak, as the bull market score index indicates only one positive signal.
📉 Why Bitcoin’s Bull Market Signal is Weak?
Despite ongoing volatility, the lack of significant bullish indicators raises concerns among investors. With minimal positive signs, the momentum for Bitcoin’s price surge seems to be fading.
⚡ What’s Next for Bitcoin?
Traders are now closely monitoring key support levels. If Bitcoin fails to hold above $102K, the next critical level to watch is $100K. Conversely, a strong rebound could push BTC towards $105K-$107K if buyers step in.
🤔 Should You Buy Bitcoin Now?
Considering the current market conditions and the limited bullish signals, potential buyers should exercise caution. It might be prudent to wait for clearer market indications before making any significant investment decisions.
Will Bitcoin recover, or is this just the start of a bigger crash? Drop your thoughts below!
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