PANews reported on December 8th that, according to Cointelegraph, crypto analyst Daan Crypto Trades pointed out that Bitcoin is currently hovering near a key technical price level. This level, as a 0.382 Fibonacci retracement range, is a key support and resistance level in the market cycle. It must hold effectively to avoid significant losses. A break below this level could see Bitcoin's price fall to around $76,000, the low point in April. Testing this low would break the existing market structure in the long-term timeframe. On Sunday evening, the Bitcoin market experienced a sharp short-term liquidation, with both long and short leveraged positions being closed. The price briefly fell below $88,000 before quickly rebounding above $91,500. This is undoubtedly an example of a low-liquidity weekend market being manipulated to simultaneously clear long and short leveraged positions.