The crypto bearish market extends this Monday with large liquidations

Source: CritpoTendencia Original Title: The crypto bear market extends this Monday with large liquidations Original Link: This Monday, the price of Bitcoin suffered a new setback with a drop to the borders of $90,000. This had an immediate effect on the rest of the digital assets and the crypto bear market is spreading strongly. Some analysts warn that a large-scale drop could be just around the corner.

Meanwhile, the more optimistic voices seem to be getting weaker. Among those who still hold hope is Tom Lee from Fundstrat. He asserts that the fundamentals of coins like BTC and ETH remain solid, which would mean that after this crash, a considerable upward rebound could occur. A similar opinion is held by Ki Young Ju, CEO of CryptoQuant, and Matt Hougan from Bitwise.

However, other experts like Mike McGlone, a Bloomberg analyst, emphasize that this situation no longer seems like a “false correction.” McGlone pointed out that liquidations could lead to a domino collapse among major cryptocurrencies. Basically, he urges investors to prepare for the worst-case scenario.

In fact, other macro strategists agreed that this could be a kind of particular black Monday for cryptocurrencies. An interesting aspect of this trend or bear market is that distrust seems to be widespread.

What will be the next stage of this bear market in the crypto sector?

For now, pessimism seems to be dominant among investors and analysts in the cryptocurrency world. As already mentioned, although some influential voices maintain a positive tone, hopes for a recovery look especially distant. This is reflected in the liquidations of the leveraged derivatives market, which exceed $800 million in 24 hours.

Is the cryptocurrency world on the brink of a winter? This is something that many investors prefer to avoid. For now, a crypto winter does not seem imminent, but the pace of decline of cryptocurrencies and the lack of bullish catalysts on the horizon create unease.

According to the mentioned Lee, the fundamentals of Bitcoin remain strong, which is paradoxical given the recent price behavior. In fact, numerous whales are increasing their BTC purchases, suggesting that these large wallets are confident in an eventual rebound in the short term.

This confusing situation that the crypto market is experiencing is probably what leads some analysts to assert that “no one understands what is happening.” For his part, McGlone highlights that the decline could drag down the rest of the cryptocurrencies. In any case, if the bad moment persists, losses will continue to be led by Bitcoin, he stated.