Bitcoin $96,907.4It lost approximately 10% of its value in the last week and fell below the critical $100,000 support level. The environment of uncertainty in the cryptocurrency market caused panic among investors. This sharp decline, Ethereum 
$3,381.7 It also negatively affected leading altcoins such as and Solana.
Critical Warnings from Market Analysts
Analyst Michael Pizzino painted a pessimistic picture for the future of the market. Pizzino pointed out that if Bitcoin falls below $74,000, a major market correction could occur. The analyst used the following statements:
“We have the potential for a macro double top, which is a very negative signal. “We should not ignore that Bitcoin is moving away from the March top line.”
According to Pizzino, the fact that Ethereum and Solana have fallen for three consecutive days signals that the market has entered a macroeconomic downtrend. It is stated that this trend may drag investors into a long-term bear market.
Pizzino pointed out that a “smug bounce” that could occur if the market falls below $74,000 could be a harbinger of a long-term bear market in 2022. According to the analyst, this process may leave investors facing serious losses.
Long-Term Trends Are Important
The analyst urged investors to focus on macroeconomic trends rather than short-term market movements. He called:
“We need to listen to what the market is saying and look for reasons why my analysis might be wrong.”
Pizzino emphasized that the market is unlikely to make a rapid and sharp recovery after its decline. He pointed out that if such a recovery occurs with low market activity, the market may have peaked.
This volatility in the cryptocurrency market requires investors to adopt more careful and flexible strategies. To counter a long-term downtrend, it is critical for investors to focus on the overall market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
