Bitcoin (BTC) has experienced a decline since reaching an all-time high in January. Technical indicators suggest a deeper correction, with a target of $73,000. The market lacks liquidity, making it difficult for Bitcoin to solely rely on buyers and bullish leverage for growth. The price is currently forming a short-term range between $90,000 and $82,000. The break of the $91,000 resistance level has resulted in further downside, with BTC at risk of dropping to $82,000 and potentially $73,500. On-chain data shows a shift in whale and shark wallet accumulation patterns, indicating potential for a recovery if large stakeholders continue to buy BTC. However, investors are closely monitoring economic data releases for further market expectations.



Other News from Today