Bitcoin Price Could Drop to $72,000 if It Fails to Hold $100,000, According to CryptoQuant Analysis

On-chain analysis firm CryptoQuant has issued a warning that Bitcoin could potentially drop to $72,000 in the next 1-2 months if it fails to maintain the $100,000 level. Julio Moreno, the firm's head of research, told The Block, 'If the price fails to sustain around the $100,000 mark and breaks below, there is a heightened risk of it falling to $72,000 within one to two months.'

On the morning of November 5th, Bitcoin fell below $100,000 for the first time since May. According to data from Coinglass, positions worth approximately 250 billion yen were liquidated in the past 24 hours, surpassing the previous day's liquidation of 169 billion yen...