The crypto market has turned red this Thursday. $BTC has experienced a correction of 5%, wiping out the week's gains and putting investors on edge as it falls to the $84,000 zone.
What is really happening and why is "digital gold" under pressure? Here’s a summary so you can make the best decisions.
📉 The 3 causes behind the fall
The shadow of the government shutdown in the U.S.: Predictions on platforms like Polymarket have raised the probability of a budget standoff to 75%, leading to a massive exit of risk assets.
Rotation towards metals: For the first time in months, gold and silver ETFs are receiving capital that is leaving Bitcoin. While gold seeks highs, Bitcoin struggles to maintain its safe-haven narrative.
Cascade liquidations: In the last 24 hours, more than $300 million in long positions have been liquidated. Excess leverage has punished the "bulls" again.
📊 Key Technical Levels (Don't lose sight of them)
Critical Support: The zone of $79,000 - $80,000. If Bitcoin breaks this level, we could see a quick visit to $75,000.
Resistance to Beat: $91,000. Until we reclaim the 50-day moving average (EMA50) at that level, the short-term trend remains bearish.
💡 Buying opportunity or bull trap?
Despite the drop, companies like Metaplanet have taken the opportunity to raise an additional $137 million to continue accumulating Bitcoin. Institutions are buying the "dip" while retail is selling out of fear.
Reflection of the day: Historically, corrections of 5-10% in post-halving cycles are necessary to "clean" the market of weak hands. Is this the time to load up or to wait from the sidelines?
What are you doing? 👇
Do you see $84,000 as an entry zone or do you think the price will look for lower levels before February? Let's discuss in the comments!
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