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**Bitcoin Price and Technical Outlook**
After being rejected from its all-time high, Bitcoin experienced a 13.60% pullback. However, this decline was temporary, as the price showed signs of recovery for some time. BTC managed to stay above the 20-day moving average briefly but dropped below this level on December 9th, sparking panic in the market.
Following this, Bitcoin also fell below the 50-day and 100-day moving averages, creating further shockwaves. Currently, Bitcoin is trading at $96,607, down 2.90% in the last 24 hours. Trading volume has surged by 118%, signaling a shift as investors move their assets into short positions.
It remains uncertain how much further Bitcoin might decline, but the $92,600 level represents a key support threshold, reinforced by the 200-day moving average. This makes it an important area to watch.
#MarketCorrection: Should you buy the dip or wait it out?
#WhatAltcoinsAreYouBuying?
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