The current market sentiment remains neutral, though extreme fear could be necessary for a Bitcoin recovery. Bitcoin’s price recently decreased from around 112,000 USD to 101,300 USD, contributing to a fearful atmosphere among investors.
Technical analysis indicates that Bitcoin may face challenges if it falls below the fair value gap between 97,900 USD and 100,700 USD. Fibonacci retracement levels suggest additional support at 93,200 USD, 88,800 USD, and 82,500 USD.
A liquidation heatmap indicates an attractive drop point at 92,600 USD, which may be triggered by broader market uncertainties. Without strong buying demand, Bitcoin may struggle to recover past the 100,000 USD mark.
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