Bitcoin Falls Below $100,000, Bad Situation: According to CryptoQuant, Bitcoin Could Reach These Levels!

Bitcoin's decline continues to ￰0￱ collapse that began on Monday evening continues, with the BTC price dropping below $100,000. While there is curiosity about whether Bitcoin's decline will continue, one analyst claimed that if Bitcoin cannot hold $100,000, it could fall to $72,000 within a month or two. Bitcoin's Situation Is Getting Worse, $72,000 Possible! According to The Block, CryptoQuant research head Julio Moreno said that the critical level for Bitcoin is $100,000.

According to Moreno, Bitcoin could drop to $72,000 in one to two months if it fails to maintain the $100,000 level. “If Bitcoin fails to hold around $100,000 and breaks down, there is a higher risk of seeing $72,000 in one to two months.” Moreno said Bitcoin's recent declines reflect a continued deterioration in demand following the October 11 liquidation, the largest liquidation in cryptocurrency history, which wiped out more than $20 billion in leveraged ￰1￱ this point, the analyst pointed out that demand has weakened since the record liquidation event on October 11 and that market sentiment has generally been on a downward trend, and that the latest consecutive decline is due to these reasons.

“Since the big crash in October, spot demand for Bitcoin has steadily ￰2￱ net inflows have decreased and the Coinbase premium has turned negative, suggesting weakening investor demand in the US as ￰3￱ crypto market's Bullish Score Index is currently around 20, clearly signaling a bearish period. *This is not investment ￰4￱ Reading: Bitcoin Falls Below $100,000, Bad Situation: According to CryptoQuant, Bitcoin Could Reach These Levels!