Since early November, Bitcoin has faced its first major correction, falling 13% from its all-time high of $108,364. This sudden drop has shocked the entire cryptocurrency market, shifting sentiment from very optimistic to uncertain and even fearful. The sell-off has been particularly brutal, especially for many other cryptocurrencies that are experiencing significant depreciation, while Bitcoin is struggling to recover its upward momentum. The key data from CryptoQuant highlights the severity of the situation, with actual losses totaling $28.9 million, which is 3.2 times higher than the weekly average. The sudden increase in actual losses indicates that some investors have exited their positions after weeks of significant gains in the market. The crucial question now is whether this is a healthy adjustment in the price uptrend or the beginning of a larger downtrend. Traders are closely monitoring the maintenance of the important support levels for Bitcoin and the performance of various altcoins, which often amplify price fluctuations in Bitcoin. The market is currently at a crossroads, and the next few days will reveal whether Bitcoin can recover and continue its upward trend, or if this adjustment signals a longer period of weakness. Bitcoin faces selling pressure. After experiencing two days of sharp declines, Bitcoin is facing significant selling pressure, marking an important moment in the market. The sudden shift in sentiment has made many analysts and investors cautious, with some becoming pessimistic as Bitcoin's recent momentum has started to fade. This adjustment raises questions in the market about whether the current price fluctuations are a natural pause or a precursor to losses in depth. Leading analyst Axel Adler recently shared detailed information about X, supported by fascinating on-chain data, highlighting the implemented losses of $28.9 million. This figure is 3.2 times higher than the weekly average, indicating a significant increase in selling activity. Adler's analysis emphasizes that although the sell-off may seem concerning, it is a healthy adjustment in the market, especially after Bitcoin's price surged significantly to $108,300. #Write2Win Adler points out that the current dip should not cause panic, but rather be a moment of patience for long-term holders. He emphasizes that it is a time to HODL unless further discount signals indicate a longer downward trend. Such adjustments typically provide the fuel needed for the next cycle in the market, as weaker hands exit and stronger hands position themselves strategically. Price volatility remains crucial, and investors are closely monitoring to determine whether this adjustment will strengthen a solid foundation for future growth or signal the next downtrend. BTC is maintaining its upward structure (currently). After enduring strong selling pressure for three consecutive days, the trading price of Bitcoin has fallen to $94,400. Despite the evident bearish market sentiment, Bitcoin is still striving to maintain its major support level at $92,000. This support level is crucial as it clearly defines the uptrend. Being able to hold above this level indicates the possibility of recovery and lays the foundation for strong rebounds in the future if buyers regain control in future trading.