Bitcoin Price Falls, This Analyst Actually Sees Momentum to Skyrocket Again?||tron-fan-club: 10.00%

come back with me today and as usual I always share information and news that I have read for my knowledge about blockchain and crypto currency, of course it is very interesting for us to hear, especially if we have these assets and even if we don't have assets but we also have to know them, so that we can find out about the world which is currently excited about the crypto currency BTC and others, and today's news regarding the decline in the price of BTC which In a series of dramatic events, the price of the main crypto Bitcoin (BTC) has suffered its biggest daily drop in nearly four months, but analysts see opportunities to shoot higher.

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This sudden drop was part of a massive leverage removal, surprising many traders and reinforcing the unpredictable nature of investing in crypto assets

On that fateful Sunday night, Bitcoin's value plummeted, dropping sharply from around US$43,800 to around US$40,500 in a matter of minutes, in what many are calling a flash crash. This sharp drop was quickly followed by a modest recovery, with the cryptocurrency recovering some value to US$42,400. However, this recovery was short-lived, as the price started to slide again during the afternoon hours in the US, it fell as low as US$40,200. This level was reached again in the previous week's upward trajectory.

At the time of reporting, Bitcoin had made a slight comeback, trading above the US$41,000 mark. Despite the recovery, it remains almost 7% lower than 24 hours earlier, potentially marking the worst daily decline since the coin fell below US$25,000 on 17 August.
Historically, BTC has been accustomed to sharp declines, especially during its bull cycles. However, recent weeks have seen a steady rise in prices, with BTC rising from around US$27,000 to nearly US$45,000 since October 1, with little disruption.

Bitcoin Prices Have the Potential to Skyrocket Again.

This latest correction, although sudden, is not completely unexpected, according to Will Clemente, a market analyst who focuses on Bitcoin prices. Coindesk reports Clemente suggested that this pullback was a necessary mechanism to reduce excessive leverage in the market, ultimately leading to more sustainable price action.

BTC almost doubled in 2 months without a pullback, correction is not that surprising. A correction removes weak hands and leverage, allowing a stronger foundation for a move higher later,” he said in a tweet.

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This drop in BTC prices had a significant impact on the crypto derivatives market, with more than US$520 million of leveraged trading positions, mostly long bets on rising prices, wiped out. This daily liquidation rate, as reported by CoinGlass data, is the largest in at least three months.
Liquidation, which is the forced closure of a leveraged trading position due to exhaustion of a trader's margin, often signals a local top or bottom in price.

Joel Kruger, a Market Strategist at LMAX Group, observed that chain liquidations of leveraged long bets exacerbated the current sell-off, with traders struggling to meet margin calls. Kruger also highlighted the role of the strengthening US dollar in adding to the vulnerability of the crypto market.

However, it's not all bad news in the world of crypto. Kruger noted that the pullback has brought the crypto down from overbought levels, paving the way for a potential rally to new peaks in the future.

#NewsBTC reports that, on-chain analytics firm Santiment revealed an increase in social media mentions to buy the dip after the crypto market experienced its latest downturn. This increase is tracked using social volume metrics, which monitor the number of unique posts, threads and messages across social media platforms that discuss a particular topic.

Unlike traditional methods that count mentions, this metric focuses on individual posts to provide a clearer picture of the overall sentiment of social media users. The spike in talk about buying the dip reflects a general sentiment among crypto enthusiasts and investors, who often view significant price drops as an opportunity to buy an asset at a lower price, anticipating future profits.

This concept, although not unique to cryptocurrencies, is very common in this market due to its high volatility and frequent price fluctuations, that's all and thank you, I hope it's useful and keep up the enthusiasm in carrying out the process of increasing the price of BTC. Hopefully, best regards.