Bitcoin faced intense selling pressure after breaking above the $100K mark, resulting in a drop to $92,500. Market sentiment has been rattled, and investors are cautious about the immediate direction of Bitcoin. Analyst Axel Adler highlighted that the key support levels to watch are between $86.8K and $89.7K, which could attract buyers and potentially lead to a reversal. The consolidation phase is crucial for Bitcoin, and holding above or reclaiming key levels like $92K will determine its trajectory. Reclaiming the $95K and $98K levels is crucial for bullish momentum. Losing the $92K support level could expose Bitcoin to lower demand zones around $85K. The next few days will be pivotal in determining if Bitcoin stabilizes or experiences a deeper correction.



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