Аналитики объясняют резкое падение биткоина паническими распродажами краткосрочных инвесторов Translation: Analysts explain the sharp drop in bitcoin due to panic selling by short-term investors.

The decline in the price of the leading cryptocurrency from its peak of $126,000 was driven by the capitulation of short-term holders (STH), rather than a distribution of coins by long-term investors (LTH), according to analysts at XWIN Research.

Experts found that the most significant drops were caused by panic selling from STH, many of whom realized losses. During periods of decline, the majority of assets sold were coins «aged» under three months. The actions of short-term holders, especially those employing leverage, had the most immediate and pronounced effect on price.

LTH have also been offloading assets since September to lock in profits. However, analysts believe that their level of activity aligns with behavior seen in the middle of a bull cycle, lacking the aggressive «dumping» of coins typically observed at market peaks.

Despite the price drop, new funds continued to flow into the sector, but the influx was insufficient to counterbalance the pressure from sellers.

Analysts concluded that the sharp drop was a correction within a bull market rather than a trend reversal, with panic selling and position liquidations from short-term holders as the key driving forces.

Analyst Michaël van de Poppe predicted a rise in the price of digital gold to $100,000 within the current week.

He believes the prices tested the lower boundaries on November 15-16. He now anticipates the establishment of a higher support level that will serve as a foundation for upward movement.

If this scenario unfolds, it could create an opportunity for the liquidation of «trillions of dollars» in short positions.

*»It will be magnificent,»* he stated.

The key condition for reaching $100,000, according to the analyst, is maintaining the $94,000 level.

At the time of writing, the price of the leading cryptocurrency is 24% below its all-time high.

On November 14, short-term Bitcoin holders sold 148,241 BTC at a loss. This sell-off coincided with the asset’s price dropping below the psychological threshold of $100,000, noted analyst Crazzyblockk.

According to him, investors executed trades at around $96,853. The average purchase price of the coins ranged from $102,000 to $107,000.

The breakdown of the $100,000 support level and the price plunge below the entry point triggered a wave of fear. Investors chose to realize losses rather than risk further declines.

The analyst referred to this as a «classic capitulation» from participants who bought at the peak. He believes that such a transfer of coins from panicked sellers to confident buyers could strengthen the long-term support base.

Crazzyblockk views this as a «brutal but necessary reset» that could precede market stabilization.

As a reminder, on November 17, the price of the leading cryptocurrency fell to a six-month low of $93,000, before recovering to around $95,000.