Bitcoin has experienced a 6.4% decline in the past 24 hours, signaling the emergence of a rounding top pattern. However, this drop in price may be short-lived, as a significant amount of BTC has been moved onto exchanges, potentially due to panic selling. Despite this, the Coin Days Destroyed (CDD) metric suggests that long-term holders (LTHs) are remaining inactive, indicating confidence in a market recovery. The current bearish momentum is not overly intense, providing an opportunity for Bitcoin to bounce back from support at $93,625. If successful, BTC could rise towards $100,000, signaling a critical recovery and restoring investor confidence. However, if the bearish pattern persists, a further drop to $92,005 may occur. A breach and flip of the $100,000 resistance into support would invalidate the bearish outlook and potentially trigger a rise to $105,000.



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