The price of Bitcoin has fallen below $90,000 for the first time since November 2024 and is down 11% in the past week. Technical indicators show bearish signals, with the red cloud above the current price action indicating increasing bearish momentum. However, some analysts see potential signs of recovery as short-term EMA lines start to trend upward. The Ichimoku Cloud also shows a predominantly bearish sentiment, with the red cloud signaling a resistance zone that Bitcoin would need to break through to reverse the trend. The decline in the number of whale addresses holding Bitcoin could signal short-term selling pressure, but the current count remains historically elevated, indicating continued institutional and high-net-worth individual interest in Bitcoin. Despite the current bearish configuration of Bitcoin's EMA lines, there are emerging signs of potential optimism for a trend reversal in the near future. If a bullish crossover occurs, Bitcoin could challenge resistance at $93,000 and potentially resume its broader uptrend.



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