Understanding Bearish Sentiment and Current BTC Scenario

Current Bearish Sentiment Reasons:-
1. Geopolitical tensions between Israel and Iran have destabilized the market, with fears of an imminent war within the next 24 to 48 hours leading to a global sell-off as investors seek safer assets.

2. Disappointing earnings reports from tech giants like Amazon, Intel, Microsoft, and Alphabet (Google) have cited slower growth and capacity constraints, dampening investor enthusiasm. This spurred fears of a recession, as evidenced by the jump in the Cboe Volatility Index (VIX), which measures market volatility.

3. In the crypto space, Jump Crypto has unstaked approximately $410 million worth of Ethereum since July 24th and sent $314.8 million to exchanges, contributing to a price dump. This large-scale transfer suggests a potential sell-off, adding downward pressure on prices.

4. All these reasons have led to total liquidations surpassing $1.6 billion, with 75% being long positions, resulting in a $531 billion reduction in the crypto market cap.

Current BTC Scenario
Bitcoin (BTC) is currently around $52,000 after hitting a low of $49,000. The cryptocurrency broke its bull flag pattern, indicating potential further downside. On the 2D chart, BTC showed a demand zone price action with a range between $53,000 to $50,500 , this might be the potential bottom of market however if this level breaks then next critical support zone for BTC is between $44,000 and $40,000 . This is a crucial level to go for "BUY FOR BAGS PRICE" . Investors should closely monitor these developments amid the turbulent market landscape.

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