The post Bitcoin Dips Below Critical Support, Market Remains Cautious appeared on BitcoinEthereumNews.com. Key Points: Bitcoin’s 27% drop from its all-time high impacts the market significantly. Sentiment and volatility show the precarious state of the crypto market. QCP Capital’s analysis emphasizes a cautious outlook for digital assets. On November 17th, Singapore-based QCP Capital reported Bitcoin’s 27% decline, closing below $100,000, triggering market caution amidst heightened macroeconomic uncertainties. This price drop, breaking critical support, signals potential market fragility, with institutional outflows and technical indicators suggesting limited short-term recovery despite bearish sentiment. Bitcoin’s 27% Slide Below $100,000 Marks Market Caution Bitcoin’s price decline and break below the 50-week moving average signal a significant shift in market sentiment. The digital asset briefly hovered at a crucial support level of $92,000, noted previously in Q4 2024. Analysts from QCP Capital highlight the fragility of the current bull cycle, attributing macroeconomic uncertainty and slow liquidity recovery as primary concerns. Institutional outflows continue, with over $1 billion in Bitcoin exits from spot ETFs, further stressing the market’s cautious outlook. According to a QCP Capital Analyst, “For now, crypto’s bull cycle hangs in the balance. A short-term bounce may come, but the path of least resistance remains lower.” Despite this, some industry analysts, including QCP Capital, predict possible short-term rebounds due to unfilled CME gaps. According to CoinMarketCap, Bitcoin (BTC) currently trades at $92,121.99, with a market cap of $1.84 trillion and dominance at 58.86%. The daily trading volume reached $88.67 billion. Recent metrics indicate declines of 2.35% over 24 hours and 13.89% over 30 days. These trends reveal heightened caution among investors. From the Coincu research team, current market conditions stress the need for cautious trading and monitoring of key support levels. With macroeconomic uncertainties and historical cycle trends impacting sentiment, traders may witness increased volatility in the coming weeks. This analysis indicates critical market dynamics influencing investor behavior… The post Bitcoin Dips Below Critical Support, Market Remains Cautious appeared on BitcoinEthereumNews.com. Key Points: Bitcoin’s 27% drop from its all-time high impacts the market significantly. Sentiment and volatility show the precarious state of the crypto market. QCP Capital’s analysis emphasizes a cautious outlook for digital assets. On November 17th, Singapore-based QCP Capital reported Bitcoin’s 27% decline, closing below $100,000, triggering market caution amidst heightened macroeconomic uncertainties. This price drop, breaking critical support, signals potential market fragility, with institutional outflows and technical indicators suggesting limited short-term recovery despite bearish sentiment. Bitcoin’s 27% Slide Below $100,000 Marks Market Caution Bitcoin’s price decline and break below the 50-week moving average signal a significant shift in market sentiment. The digital asset briefly hovered at a crucial support level of $92,000, noted previously in Q4 2024. Analysts from QCP Capital highlight the fragility of the current bull cycle, attributing macroeconomic uncertainty and slow liquidity recovery as primary concerns. Institutional outflows continue, with over $1 billion in Bitcoin exits from spot ETFs, further stressing the market’s cautious outlook. According to a QCP Capital Analyst, “For now, crypto’s bull cycle hangs in the balance. A short-term bounce may come, but the path of least resistance remains lower.” Despite this, some industry analysts, including QCP Capital, predict possible short-term rebounds due to unfilled CME gaps. According to CoinMarketCap, Bitcoin (BTC) currently trades at $92,121.99, with a market cap of $1.84 trillion and dominance at 58.86%. The daily trading volume reached $88.67 billion. Recent metrics indicate declines of 2.35% over 24 hours and 13.89% over 30 days. These trends reveal heightened caution among investors. From the Coincu research team, current market conditions stress the need for cautious trading and monitoring of key support levels. With macroeconomic uncertainties and historical cycle trends impacting sentiment, traders may witness increased volatility in the coming weeks. This analysis indicates critical market dynamics influencing investor behavior…

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more