Analysts are warning that Bitcoin (BTC) is at risk of a massive sell-off and a drop to $50,000. At the same time, the recent Bitcoin price rally is slowing down. In his analysis, popular trader Credible Crypto paints a worrying picture of Bitcoin’s price in the short term. Despite Bitcoin’s 40% recovery from its August lows, the market has struggled to hold recent support levels. The trader pointed to the selling volume in the spot market and the open interest index in the Bitcoin futures market on the Binance exchange and predicted the possibility of a price decline.
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