Two major alarms sound! Bitcoin falls below $108,000, and market risk aversion intensifies
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Bitcoin price fell below $108,000, currently reported at $107,165, with a weekly decline of 6.9%. Market risk aversion is rising, and the options market shows investors are paying a premium to buy put options to hedge against risks. Miners have deposited approximately 51,000 bitcoins into exchanges, which may indicate a sell-off. Technically, Bitcoin has fallen below the 50-day moving average, and if it continues to stay below the 200-day moving average of $108,070, it may further test the support level of $102,000. Investors need to pay attention to the performance of key support levels
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