Bitcoin (BTC) dropped under $56,000 on Nov. 19, finishing a close to 20% correction from the all-time high. The Crypto Worry & Greed Index, which remained within the greed zone for a lot of the previous two months, has plummeted into the concern class with a studying of 34.

Cryptocurrency analysis agency Delphi Digital said in a recent report that the sell-off in Bitcoin was “largely pushed by a wave of liquidations relatively than a basic shift in narrative,” and the analysts count on the drawdown to be “comparatively short-lived.”

Every day cryptocurrency market efficiency. Supply: Coin360

The latest correction doesn’t appear to have shaken the long-term holders. In accordance with the Hodl Waves metric, the supply held by investors who bought over the previous 6-to-12-month interval has soared to 21.4% as of Nov. 17 in comparison with 8.7% at the beginning of June.

May decrease ranges entice sturdy shopping for, leading to a pointy restoration or will bears promote on rallies? Let’s research the charts of the highest 10 cryptocurrencies to seek out out.