Bitcoin's price experienced a 10% surge to $93,604 followed by a 5% decline to $89,100, indicating the unpredictable nature of the crypto market. The Bollinger Bands indicator, created by John Bollinger, was suggesting caution as Bitcoin failed to hold above the middle band on the daily time frame. This led to a decline and the liquidation of $1 billion in leveraged positions, demonstrating the risks involved in crypto trading. With Bitcoin trading below the mid-range, the market sentiment has turned bearish, and the next target is the lower Bollinger Band at $83,400. However, the market could reverse its trend unexpectedly, so traders are closely monitoring the Bollinger Bands.



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