Bitcoin Drops 9% — Is $10.6K the Next Stop?
Bitcoin dips 9% after bearish calls, with analysts eyeing the $10.6K region as fear grips the market.
- Bitcoin has dropped 9% since the recent “sell all” signal.
- Analysts expect more downside, targeting the $10.6K range.
- Market fear is rising as bearish momentum continues.
Bitcoin has taken a sharp 9% dip, aligning closely with recent bearish predictions that called for a full exit and short positions. The sharp drop has reignited fears among investors, especially as the market shows no signs of recovery yet. Analysts who predicted the decline remain confident that the downside is far from over.
Many traders had been holding out hope for a rebound, but recent price action suggests otherwise. Bitcoin’s breakdown is not just a correction — it may be the beginning of a deeper slide. Technical indicators and market sentiment are both pointing toward continued weakness.
$10.6K in Sight: Why Analysts Expect Further Decline
With Bitcoin now trading significantly below recent highs, the next short-term target being projected is the $10.6K region — a level that hasn’t been seen in years. This number is being watched closely as it represents a psychological support level, and a breach could trigger even more aggressive selling.
The move toward $10.6K may seem extreme, but for those who followed the “sell all” and short-entry strategy, it aligns with the ongoing trend. Fear is rising across the market, with social media sentiment and trading volumes suggesting many retail investors are exiting their positions.
Fear Index Surges as Bulls Step Back
The Crypto Fear & Greed Index is swinging sharply toward “Extreme Fear”, highlighting the emotional state of the market. This often leads to panic selling, which can accelerate price declines. As bulls pull back and short-sellers take over, the current downtrend may only intensify.
In the current environment, caution is key. Traders are advised to keep an eye on volume trends, key support levels, and news that could shift market sentiment either way. For now, the bears are in control — and $10.6K is the level to watch.
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