In the language community live broadcast: alarm sounded! BTC loses $121000, the beginning of a bear market?

Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9850662513 Digital gold has been overshadowed, and the cryptocurrency market has been flooded with blood, with 130000 investors collectively falling in the midst of liquidation. The Bitcoin market is experiencing a fierce storm. Bitcoin continues to fall below the $121000 mark, with a current price of $121845 and a 24-hour decline of 3.14%. This sharp decline is not an isolated event, Ethereum Solana、 Major cryptocurrencies such as Dogecoin have followed suit, with a decline ranging from 4.1% to 6.18%, and the entire digital currency market is bleak. 【 01 Collective decline 】 The cryptocurrency market suffered a comprehensive bloodbath in the early morning of October 8th. Not only did Bitcoin fall below $121000, Ethereum also plummeted 4.1% to $4515, and Solana plummeted 5.1% to $223.55. Market panic quickly spread, even the highly sought after Dogecoin couldn't escape the disaster, with a single day drop of up to 6.18% and XRP falling 4.82%. This collective decline reveals the widespread fragility of the current cryptocurrency market, where no token can stand alone in this storm. 【 02 Spread of Fear 】 As the price of Bitcoin continues to decline, market sentiment has clearly turned towards panic. BlockBeats reported that the Fear and Greed Index has entered the "fear" range, and key technical support levels are facing severe tests. This panic is not groundless. According to CoinGlass data, over 130000 people worldwide have experienced liquidation in the past 24 hours, with Ethereum contracts experiencing liquidation amounts of up to $143 million, more than twice the amount of Bitcoin liquidation. The largest single liquidation reached up to 9.8 million US dollars, rumored to be a Korean retail investor with a hundredfold leverage, and his account was wiped out overnight. [03 Long Short Game] Behind this sharp decline, both long and short sides are engaged in a fierce game. Ledn's Chief Information Officer John Glover has issued a stern warning, stating that if Bitcoin fails to break through the resistance level of $125000, it may come at a cost, which could signal the beginning of a bear market. According to Glover's analysis, "If we break through $125000, we expect to reach $145000 by the end of the year or early next year. If we reject a few attempts around $125000, there is reason to believe that Bitcoin will start a bear market." However, not all analysts are so pessimistic. Since July, Bitcoin has broken through $120000 three times, including the recent weekend rally. QCP Capital stated in its market update that prices have remained above $120000, indicating that non institutional demand remains strong. 【 04 Future Direction 】 Faced with the current market volatility, what investors are most concerned about is whether this is the beginning of a bear market? Coinbase research director David Duong predicted in his recent monthly report that the market may bottom out in the mid to late second quarter of 2025, creating conditions for a recovery in the third quarter. However, from the perspective of on chain indicators, the bull market cycle in 2025 is still intact. The MVRV Z value rebounded from 1.43 after hitting the low point of the third quarter of 2025, consistent with the historical bull market correction trend in 2017 and 2021. Meanwhile, the adoption of institutional investors is still playing a stabilizing role. In 2025, US spot ETFs attracted over $28 billion in funds and held over 1.29 million BTC. Looking back at historical data, Bitcoin also experienced a similar degree of pullback in the bull markets of 2017 and 2021, but subsequently set new historical highs. The divergent views of market analysts make the future even more uncertain. John Glover warns that $125000 is a critical decision point: a successful breakthrough could potentially impact $145000 by the end of this year or early next year; Repeated failed attempts may indicate the beginning of a bear market. The high volatility of the cryptocurrency market is already a norm, and today's decline may just be an episode in a long-term bull market. Operation suggestion: BTC 121650 long, first target watch 122890, second target watch 12360; ETH 4410 long, first target at 4500, second target at 4595. Join the language community communication group to obtain more services 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system- 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance. Tencent Meeting Live: 985-066-2513 DingTalk Group Number: 120320009032 Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.