"Bitcoin, Large Sell-off Expected if 92K Support Breaks"

Son Min

Summary

It was stated that a large sell-off will occur if Bitcoin falls below $92,000.
In the current market situation, there are large buy orders up to $98,000, making a quick price recovery possible.
It is expected that market sentiment will reverse after the U.S. Consumer Price Index (CPI) announcement.

There is a claim that a large sell-off will occur if Bitcoin (BTC) falls below $92,000.

On the 12th (local time), Adam Griggs.live, a researcher, stated on X, "The bearish outlook for Bitcoin is spreading, and a short-term downtrend has appeared," predicting, "The major support level is $95,000, and if the key support zone of $92,000 to $94,000 collapses, a large sell-off could occur."

Adam mentioned, "Currently, the Bitcoin options market is difficult to trade due to decreased volume and low volatility (about 45%)," but added, "There are large buy orders (900 BTC) stacked up to $98,000 at the current price level, making a quick price recovery possible." He continued, "Considering the short covering that occurred at the close of the U.S. stock market yesterday, the market sentiment could reverse after today's Consumer Price Index (CPI) announcement."

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