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Bitcoin's (CRYPTO: BTC) weakness is raising concerns that the crypto market is increasingly dominated by short-term trading, impacting price performance.
What Happened: In a detailed post on X on Friday, prominent trader Pentoshi highlighted Bitcoin's critical levels:
He noted that temporary dips below support may be tradable within minutes or hours, but sustained breaches could open the door to $98,000, putting altcoins at risk.
Pentoshi emphasized that Bitcoin can appear "expensive" or "cheap" at the same price, depending on whether it is retesting from above or below.
He recommends staying neutral and adaptable, ready to trade in either direction based on market behaviour.
Given thinner order books and overall market weakness, he advised reduced trade sizes while awaiting a decisive move.
Compared to other markets, crypto has been far weaker, with stocks and commodities drifting higher while altcoins remain largely stagnant.
Also Read: Bitcoin Plunges To $105,000: Is This A Black Friday In The Making?
Why It Matters: Pentoshi explained that the crypto market is dominated by short-term trading cycles.
Sustained moves in altcoins are rare, with narratives often reversing within two weeks.
Thin liquidity limits upside potential, while downside risk remains high, with some assets at risk of dropping to zero.
For altcoins to see meaningful gains, key support and resistance levels must be reclaimed, though timing remains uncertain.
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Image: Shutterstock
Posted In: $BTC
