Bitcoin (BTC) reached a record high on December 17 but has since dropped below $100,000. Key indicators, such as the ADX, indicate a weakening downtrend. BTC's ADX has decreased sharply, suggesting a loss in momentum and a weaker trend. The number of addresses holding at least 1,000 BTC has declined, indicating a sell-off or redistribution among large-scale investors. However, there has been a modest increase in whale numbers, suggesting a cautious return of confidence. Bitcoin price is approaching a critical resistance level at $94,200, and breaching it could lead to further upward momentum. Despite this possibility, the BTC EMA lines still indicate a bearish setup. If the downtrend strengthens, BTC could retest the support at $90,700.



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