Bitcoin experienced a 6% drop in price, falling below $96,000 due to a spot sell-off driven by macroeconomic concerns. Analysts suggest that if Bitcoin fails to hold the key support level at $95,000, it could potentially drop further to $88,000. However, on-chain data shows an increase in withdrawals from exchanges, indicating that investors are moving their holdings to personal wallets, potentially reducing sell-off pressure. Additionally, the Chaikin Money Flow index remains positive, suggesting sustained buying pressure and a healthy inflow of capital into Bitcoin. CryptoQuant CEO Ki Young Ju also noted that the Apparent Demand for Bitcoin remains high, indicating investor confidence in the asset's future potential.



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