Cryptocurrency market today, November 20: Experts reveal signals that may surprise investors

(NLDO) - Experts say that this price drop of Bitcoin could be the final "shakeout" phase, when investors using leverage are forced to sell off.

On the evening of November 20, the cryptocurrency market fluctuated simultaneously. Data from the OKX exchange, in the past 24 hours, showed that Bitcoin increased slightly by 0.1%, trading around $91,720.

Meanwhile, other cryptocurrencies performed in opposite directions, with Ethereum falling nearly 3% to $3,000, BNB losing more than 2.5% to $900, XRP falling nearly 1% to $2.1. On the contrary, Solana recorded an increase of nearly 2% to $141.

According to CoinTelegraph , the price of Bitcoin has undergone a sharp decline, causing the coin to lose about 26.7% of its value, slightly higher than the 26.5% drop in April, marking the deepest decline since the beginning of the current bull cycle.

Bitcoin is trading at $91,720. Source: OKX

Many experts say this could be the final shakeout, as leveraged investors are forced to sell off.

Bitcoin researcher Axel Adler Jr. said market tensions remain high after Monday's sharp drop, with the index reading at 67.82, above the warning threshold but not yet at critical danger levels.

Market pressure has eased slightly over the past 24 hours, but there are still new signs of concern.

The investor sentiment index also reflected this situation, as the Fear and Greed index fell below 10 before recovering to 15, still at "Extreme Fear" level.

History shows that when this index reaches extreme lows, Bitcoin often rebounds strongly. On average, the price can increase by 10% within a week, maintain the increase for 15-30 days, even reaching 23% after 80 days and 33% after 6 months.

Analyst Victor said the current decline is the type of "eyes-down buying" that usually occurs when the market shakes out its final phase, not a sign of a cyclical top.

Real-world data also shows that many investors are recently selling Bitcoin at a loss, with nearly 65,200 Bitcoins being transferred to exchanges at a price lower than the purchase price, confirming that panic is at play.

While this does not guarantee an immediate price recovery, current signs suggest that the correction may be entering its final stages, opening up the possibility that Bitcoin is about to enter a recovery cycle.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-20-11-chuyen-gia-he-lo-tin-hieu-co-the-khien-nha-dau-tu-bat-ngo-196251120173823625.htm