Analyst: The recent pullback of BTC is closely related to the sell-off by Coinbase since October 26
ChainCatcher news, according to Bitcoinist, Bitcoin has experienced a significant pullback, dropping 15% from its all-time high of $108,300. This price drop marks a sharp shift in market sentiment, which has quickly turned from extremely bullish to uncertain and cautious. As altcoins have been hit hard, Bitcoin's pullback has raised concerns about the sustainability of the recent rally.Top analyst Maartunn recently emphasized that this adjustment coincides with the most severe sell-off activity on Coinbase since October 26, when the BTC trading price was $66,000. The increase in selling pressure clearly indicates a shift in the market from a bullish phase to one filled with fear and hesitation. The combination of reduced buying activity and rising selling pressure suggests that the market is struggling to maintain its upward momentum.Additionally, Bitcoin is currently testing the $92,000 level in search of support.