Based on AiCoin, Bitcoin (BTC) and Ethereum (ETH) faced sharp declines on December 1, with BTC dropping over 5% to $83,786 and ETH falling to $2,718. Current analysis indicates a bearish trend, with BTC needing to break above $88,000 to ease downward pressure and ETH struggling to reverse its decline despite RSI entering oversold territory. Market sentiment remains weak, with over $985 million in liquidations reported in the past 24 hours. Technical indicators and macro risks, including potential Bitcoin sales by MicroStrategy and Japan’s proposed 20% crypto tax, continue to weigh on the market.
BTC and ETH Price Analysis: Short-Term Bearish Outlook Amid Key Levels
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