Bitcoin retreats just before $100,000 as selling pressure intensifies

Bitcoin, which fell back just before the $100,000 mark, was unable to break out of its downward trend and was in danger of falling back to the $90,000 mark. Selling pressure to realize profits grew.
As of 11:55 a.m. on the 27th, Bitcoin was trading at $92,880 (about 141.5%) on CoinMarketCap, a global coin price relay site.
Bitcoin has maintained a sharp upward trend since the US presidential election. It has risen to $99,588 on Binance's benchmark and is on track to surpass $100,000 for the first time in history.
However, starting on the 23rd of last month, the price started to fall. After that, selling began to push down buying, and the downward trend has continued for five days, including today.
On this day, cryptocurrency investment sentiment is in the "Greed" stage. The cryptocurrency fear and greed index is higher than the previous day.
The price rose 4 points to 75 points. This is interpreted as a shift from the previous day's "extreme greed" stage to the "greedy" stage as Bitcoin continues to fall.
The Fear and Greed Index is a number between 0 and 100 that indicates investment demand in the cryptocurrency market. The closer to 100, the greater the demand.
According to blockchain data analysis company CryptoQuant, the net deposit and withdrawal volume of the exchange on this day was higher than the average figure for the past seven days.
Generally, the net deposit/withdrawal volume is the amount of coins deposited in the exchange minus the amount withdrawn, and is calculated based on the spot exchange.
In this case, the higher the value, the greater the selling pressure on the coin, which in the case of a futures exchange, is interpreted as increasing volatility risk.