Market Analysts Predict Potential Bitcoin Sell-Off Amid Weak Price Trends

According to Odaily, analyst Adam from Greeks.live shared insights on the X platform, indicating a bearish sentiment among groups in the short term. Traders are closing long positions and expressing concerns over weak price movements. The market is closely watching the key support level at $95,000, with the $92,000 to $94,000 range considered a critical support zone. A breach of this range could potentially trigger a significant sell-off. Currently, the market is experiencing short-term weakness, with declining trading volumes and low volatility around 45-48%, making options trading challenging. However, a large buy order of 900 bitcoins has been identified at the current price level, with a 'price vacuum' existing up to $98,000, suggesting the possibility of rapid market movements. Additionally, perpetual contracts are currently leading the sell-off, but signs of short covering were observed at the close of the U.S. trading session, preparing for a potential reversal when the CPI is announced.