CandleFocus Bitcoin Price Analysis: BTC Could Challenge $100K Again If This Support Holds
2025-01-12
Author: Content Editor
Bitcoin's price has been declining and found support at $94K, but there is a possibility it could break below that level soon. The $92K level has held the cryptocurrency and prevented further decline, but it has been tested multiple times and may not continue to hold. If the level breaks, the price could drop to $85K. Market participants are worried about the overall direction of Bitcoin's price, as indicated by the decline in funding rates in the futures market. However, this also suggests that the futures market is not overheated and there is enough spot market demand to potentially push the price higher.
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