"While Fear Peaks in Bitcoin, Investors Should Be Cautious"

Recently, the Bitcoin price has been under negative pressure, creating a widespread atmosphere of fear among investors. According to Santiment data, the panic felt by individual investors has reached its highest level since the crash on October 20. The 60% increase in trading volume is significantly affecting market dynamics, and the current price is stuck in the range of 107,000 – 108,000 dollars.

According to the crypto analysis platform Santiment, long-term investors have sold a total of 325,600 Bitcoin with recent price movements. When Bitcoin's price dropped to 107,000 dollars, comments on social media surged. Investors panicked with concerns like, “Will Bitcoin drop below 100,000 dollars?” This situation led to the collective market psychology reaching the highest level of fear since the crash on October 10.

Analysts evaluate the current price range as critical support levels, indicating that a drop below 107,000 dollars poses a risk of the price declining to between 102,000 – 104,000 dollars. CoinDesk analyst Omkar Godbole notes that Bitcoin’s first support is around 97,000 dollars, stating that selling pressure has decreased at these levels in the past.

However, the price of Bitcoin has increased by 0.98% in the last 24 hours, reaching 107,247 dollars. The steepest decline was recorded with a 4% drop from 111,909 dollars to 108,048 dollars. Santiment describes the increase in volume as “distribution pressure” and emphasizes that long-term investors realizing their gains could hinder upward movements.

According to technical data, the first resistance level for the Bitcoin price is 111,650 dollars, while the second resistance is observed at 113,600 dollars. However, the current market situation may lead investors to panic sell; thus, caution is advised. It is noted that market psychology is in an extreme fear zone, and the perspective that “the market usually moves in the opposite direction of where the crowd fears” should not be overlooked.