Bitcoin has reached 94,000 USD, igniting excitement among retail traders. Analysts are concerned about the imminent risk of a correction due to increased fear of missing out (FOMO) among inexperienced investors.
While retail interest increases, major Bitcoin holders—whales—are accumulating more Bitcoin, now controlling over 67% of the total supply. This pattern has historically coincided with significant market rallies.
Current sentiment is marked by a Fear & Greed Index reading of 72, suggesting heightened greed. Technical analysis reveals resistance at 95,091.87 USD and support at 87,724 USD, indicating a potential need for market cooling.
Leave a Reply