Bitcoin has seen a staggering 28.9 million USD in realized losses over the past five days, mirroring a 320% increase from the weekly average. This indicates heightened market instability as traders react to recent price movements.
Captain Faibik believes Bitcoin may recover to around 94,000 USD, while Cold Blooded Shiller warns of a deeper correction potentially lowering prices to 85,000 USD, based on historical behaviors.
A bearish divergence in Bitcoin’s Relative Strength Index suggests the adjustment phase might be ending. Consistently closing above 95,000 USD may confirm bullish momentum and restore market confidence.