TechFlow reports on January 10, trader Eugene Ng noted that market panic sentiment is rising. The prices of BTC, ETH, and SOL have fallen back to the low levels seen on December 5, and investors are beginning to worry these support levels might be breached. BTC's next support level lies at $85,000, a significant distance from current prices.
Eugene stated that as the bullish expectations for January gradually fade, most investors find their open positions have fully retraced, with some already facing losses. Furthermore, when cryptocurrency prices drop sharply, investor confidence in their held tokens also weakens.
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