The total cryptocurrency market has dropped to $3.09 trillion, with Bitcoin experiencing a decline of 1.76%. This has put pressure on altcoins and has hindered their chances of breaking out. However, Bitcoin is still holding dominance above its $95,000 support and shows potential for a comeback despite the bearish signals. The BTC price has created a bearish engulfing candle in the daily chart, signaling a reversal after reaching a high of $98,490. The 50% Fibonacci level at $98,733 has seen multiple rejections, indicating strong selling pressure. Although the BTC price broke below a long-standing support trendline, there is hope for buyers with price rejections at the 23.60% Fibonacci level near $95,000. Momentum indicators such as the MACD and stochastic RSI suggest a potential bullish momentum shift. On the other hand, institutional support leans towards a bearish nature, with several Bitcoin spot ETFs experiencing outflows. If institutional support aligns with technical signals, the BTC price could rebound to the $100,000 mark, while crucial support levels are at $95,000 and $92,000.



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