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Did 8% Bitcoin price drop change bulls' chance of BTC hitting $100K?  

For perspective, the 22.6% price surge between Nov. 9 and Nov. 13 resulted in $342 million in buyer liquidations through BTC futures contracts, as indicated in the purple zone. Thus, the latest price correction does not necessarily signal a trend reversal but reflects temporary excessive leverage among derivatives traders.

To assess whether the inability to breach the $100,000 psychological threshold affected investor sentiment, it is crucial to evaluate Bitcoin miners' activity. These entities collectively hold approximately 1.8 million BTC—valued at over $166.3 billion—and are responsible for releasing 3.125 BTC per mined block. 

Read More:

Did 8% Bitcoin price drop change bulls' chance of BTC hitting $100K?  

For perspective, the 22.6% price surge between Nov. 9 and Nov. 13 resulted in $342 million in buyer liquidations through BTC futures contracts, as indicated in the purple zone. Thus, the latest price correction does not necessarily signal a trend reversal but reflects temporary excessive leverage among derivatives traders.

To assess whether the inability to breach the $100,000 psychological threshold affected investor sentiment, it is crucial to evaluate Bitcoin miners' activity. These entities collectively hold approximately 1.8 million BTC—valued at over $166.3 billion—and are responsible for releasing 3.125 BTC per mined block. 

Read More: https://cointelegraph.com/news/did-8-bitcoin-price-drop-change-bulls-chance-of-btc-hitting-100k