Analyst Justin Bennett, Bitcoin (BTC) $105,082.05 After the price could not maintain a significant level of support, he pointed to possible withdrawal scenarios. In his latest statements, Bennett suggested that BTC could re -test the $ 100,000 band after some recovery after the BTC’s effort to hold $ 106,600.
Support Level and Short Term Expectations
According to Bennett’s views, a short -term consolidation in Bitcoin and a possible rise movement can be expected with the influence of retail investors at the weekend. However, in the long run, the price of retreat to lower levels continues if the price did not take a permanent movement above 106,000-107,000 dollars.
“After the BTC lost $ 106,600, I do not think of being a buyer here. I will evaluate the short position in case of a suitable recovery.” – Justin Bennett
Based on this explanation, the analyst points out that it should be cautiously approached under the current market conditions. As long as there is no clear and permanent movement at the price levels, he states that new purchase transactions will be avoided.
Effect of Corporate Movements and Investor Behavior
Analyst Bennett says that investors (whales) with large portfolio in the Bitcoin market are starting to create short positions by leaving long positions. Accordingly, whales are claimed to increase sales pressure in response to the rising demands of retail investors. Analyst said that this movement is one of the main reasons for weakening in Bitcoin.
“Thursday, whales have sold in the face of the purchase interest of retail investors. It has been a misleading rise since the beginning.” – Justin Bennett
According to Bennett’s determinations, the processes of whales in the crypto market may cause risks for small investors. This situation, price movements can lead to sudden fluctuations.
USDT.D graph and possible scenarios
Bennett recently said Tether (USDT) market domination rate (USDT.D) may indicate a negative picture for Bitcoin. In general, the increase in the USDT.D ratio may indicate that investors come out of crypto assets and turn to stable crypto money and that sales pressure in the market may strengthen. Analyst pointed out that the sales pressure in Bitcoin may continue if the USDT.D ratio is approached to 5 %after the weekly closing.
“Even though I haven’t made a clear guess yet, USDT.D weekly graph seems ready to move towards a 5 %level. I will expect to reach a clearer result until the closing of Friday to Friday, but for now the table.” – Justin Bennett
This indicator, which is widely monitored in crypto markets, means that Tether’s increase in market -dominance can cause downward movements in Bitcoin and other digital assets.
Bitcoin’s price at the time of writing the news declined to $ 105,658 and lost 1.6 %in the last 24 hours. Tether’s market domination rate was measured as 4.79 %. Market participants and analysts say that price movements should be closely monitored, especially at the weekend. Analysts’ predictions reveal that market sensitivity may change rapidly and emphasize that care should be careful.
It is understood that Bitcoin’s recent -term course and stable crypto currency trends may be decisive. According to analysis and comments, the failure to regain the support level may initiate a new downward movement at prices. Investors are advised to closely follow price movements and market indicators. Current data show that uncertainty continues and market volatility may be high.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
