Crypto traders are expressing confusion as the market deviates from historical patterns. Pseudonymous trader Sykodelic commented that the market seems ‘totally cooked’ and lacks any logical reasoning, especially after recent positive regulatory moves from the U.S. government. Another trader, The Bitcoin Therapist, believes Bitcoin is undervalued by $50K-$100K, predicting a significant repricing is imminent. Market sentiment, as measured by the Crypto Fear & Greed Index, has shifted to a ‘Neutral’ score of 54, down from ‘Greed’ at 72. Despite expectations that Bitcoin's dominance would peak in early 2025, it currently stands at 61.40%, surpassing earlier estimates. Bitcoin experienced a significant liquidation event due to geopolitical concerns, with over $2.24 billion liquidated in a single day. This volatility continued as Bitcoin trades below the $100,000 mark, currently at $97,925. Experts note that macroeconomic factors are being overlooked by traders as the market is rapidly changing and evolving.

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