Bitcoin Price Prediction: Market Enters Extreme Fear as BTC Plunges to $95K, But HYPER Soars Toward $28M

We’re halfway through November, and Bitcoin is veering into dangerous territory. It’s trading at $95,700 on Saturday, marking a 24.1% decline from its $126,080 all-time high (ATH) created on October 6.

Since Bitcoin’s trajectory dictates the broader market’s direction, this is a concern for everyone. BTC has lost a crucial support level, and community sentiment has tanked. Few are expecting an easy rebound – but what does the data say?

Is the bull market over, or is this just a steep correction ahead of an uptrend continuation? Our Bitcoin price prediction answers all these questions to determine whether BTC will bounce in the days ahead and, if so, by how much.

But while Bitcoin struggled recently, there has been an unusual divergence from Bitcoin Hyper, a Bitcoin Layer 2. Its ongoing token presale has raised $27.6 million, with around $600,000 raised in the past 48 hours. Could this be the best crypto to buy now?

This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.

Bitcoin Price Prediction: The Bear Case

Bitcoin’s price plunged to a new six-month low this weekend, fueled by weakening market sentiment, ETF outflows, and concerns surrounding the equities market.

CoinMarketCap’s Fear and Greed Index currently sits in ‘extreme fear’ at 16 points, a six-point loss in just the last day. This is the lowest sentiment since April and only the third time in the past year it has reached extreme fear.

And it’s not just retail feeling the effect – the largest Bitcoin funds are heavily offloading BTC. Farside Investors’ data shows that Bitcoin ETFs recorded $1.5 billion in net outflows between Wednesday and Friday.

This spot selling caused liquidations of leveraged long positions, wiping out $268 million in the last 24 hours, per Coinglass data.

But this isn’t a Bitcoin-only issue. Equity markets are also struggling – particularly tech stocks. The tech-heavy Nasdaq Composite slid 2.29% on Thursday as expectations for a December rate cut fell. However, both the Nasdaq and Bitcoin have somewhat steadied since, raising the question:

Is There Light at the End of the Tunnel?

Most people are preparing for a bear cycle, but markets often move in the least predicted direction.

The Kobeissi Letter says calls that “the top is in” have become consensus. It also emphasizes that “Extreme Fear sentiment readings have become a daily occurrence,” and that “large cap technology stocks are down -10% to -20% after running 100%+.”

But it claims these aren’t bear market indicators; rather, they’re “hallmark signs of a technical correction in a broader uptrend.”

Is there anything else supporting Bitcoin’s bull case? Analyst Merijn the Trader underlines that the supply of BTC on exchanges just hit its “lowest level in history,” a key indicator of investors taking long-term positions.

Furthermore, Bitcoin’s price chart has started showing strength on the lower time frame, bouncing from $94,000 on late Friday to $95,800 on Saturday. Analyst DrBullZeus claims this breaks BTC’s descending structure and lays the way for a move to $102,000 shortly.

Let’s face it – Bitcoin has seen better days. But its near 17-year track record has proven time and again that it can bounce back – oftentimes when people least expect it. The lower time frame has started to show strength, and the fact that Bitcoin on exchanges is at record lows is another great sign.

Provided it holds above $96,000 through the weekend and into Monday, betting against Bitcoin at these levels could prove costly. But even while Bitcoin struggled recently, Bitcoin Hyper has defied the odds and gained tremendous traction – so what does this mean for its future?

Bitcoin Hyper Raises $27.6M Despite BTC Decline

Bitcoin Hyper is doing for Bitcoin what the internet did for computers. It’s turning an otherwise isolated, single-purpose network into a programmable ecosystem that supports a wide range of use cases.

The project is building a Bitcoin Layer 2 blockchain that runs on the Solana Virtual Machine, enabling it to support smart contracts and compute thousands of transactions per second (TPS). That’s a massive leap forward compared to Bitcoin, which can handle only seven transactions per second.

With much faster speeds and smart contract support, Bitcoin Hyper opens use cases such as DeFi, high-frequency payments, stablecoins, meme coins, and AI to settle on the Bitcoin blockchain.

It’s a setup that could fundamentally change how Bitcoin is used – and that’s drawing massive interest with over $27 million raised in the presale. It’s also drawing attention from analysts, with Alessandro de Crypto recently suggesting it’s going to have “an insane launch.”

Bitcoin Hyper is currently available to buy in its early stages via a presale, a massive advantage over Bitcoin, which has pumped exponentially since 2022. For forecasts, read our report on Bitcoin Hyper price predictions.

For investors who missed Bitcoin’s 2022 lows, Bitcoin Hyper represents a second chance. It’s one where everyone can get in on a level playing field, and where the upside potential is even bigger.

For more forecasts, read our complete report on Bitcoin price predictions next.