Bitcoin is currently consolidating around $111,000, recovering after falling from above $125,000. It’s down roughly 9.45% on its weekly chart and 12.16% from its recent all-time high.
Market Sentiment: Bitcoin’s apparent demand has turned negative for the first time in three months, suggesting a cooling in investor appetite. Despite the recent decline, the Crypto Fear & Greed Index remains in the “greed” zone, indicating underlying optimism.
Analyst Outlook: Some analysts believe Bitcoin must hold the $110,000 level to avoid signaling the end of the current cycle. Others anticipate a powerful rebound phase in the coming weeks following the recent dip.
Liquidations: The market witnessed one of the largest liquidation events in crypto history, with over $19 billion in leveraged trades wiped out between October 10th and 11th.
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