The recent decline in Bitcoin's price has led to speculation about whether the market has reached its bottom. However, there are indications of demand as buyers have moved major bids from $90,000 to $93,000 and made additional bids at $92,000. This suggests that there is underlying demand at these price points. Passive sellers played a role in pushing the price down during the sell-off, but it remains to be seen if buyers can regain strength. Bitcoin is approaching important support levels, with the 100 EMA providing a fallback zone at $87,000 and $92,000 serving as a short-term buffer. Recovering $96,000 will be crucial for the market to change its attitude and pave the way back towards $100,000. The next few hours will be crucial in assessing the strength of underlying demand. If buyers maintain the $92,000-$93,000 range and volume rises, it could indicate a possible bottom and the beginning of a recovery. However, if selling pressure continues and support levels are broken, Bitcoin may experience a more significant correction. Traders should closely monitor bid levels and trading volume for more precise clues about Bitcoin's next move. While there is reason for optimism, it is important to exercise caution in such volatile times.



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