Bitcoin is Breaking Down the Crucial Range—Is a Pullback to $90,000 Still Viable?

Share This Post

Bitcoin Reserve Strategy

The post Bitcoin is Breaking Down the Crucial Range—Is a Pullback to $90,000 Still Viable? appeared first on Coinpedia Fintech News

Ever since Donald Trump became the President of the U.S., the expectations of a flourishing future for the crypto markets have risen. Meanwhile, the sluggish trend of Bitcoin, without a strong attempt to reclaim the levels above $100K, raises some concerns over the next price action. Meanwhile, over 26,000 BTC options are about to expire today worth over $2.54 billion, with a maxpain point at around $100,000. Therefore, the BTC price is expected to display a significant rise in volatility in the next few hours. 

Besides this, the ETF volume has dropped to some extent, while the outflows have to be more than that of inflows. Amid the growing uncertainties around Bitcoin, the massive outflow from the centralized exchanges flashes massive bullish signals for the crypto. As per the data from Glassnode, over 170,000 BTC were withdrawn from centralized exchanges during the previous day’s trade, marking it one of the largest outflows since April 2024.

This is a massive bullish signal for the BTC price rally, as the market participants could be extremely bullish on the price rally ahead. This suggests the whales are holding, which validates that this is not the top for the BTC price rally. Hence, this shift could introduce new opportunities for the market participants. What’s next? When will the price rise back above $100,000? 

After the recent pullback, the Bitcoin price is struggling to rise above the crucial resistance zone between $98,612 and $99,500 for a couple of days. This consolidation is expected to prevail for some more time as the bulls continue to display weakness. The drop in the CMF suggests the growing weakness within the rally as the bears are gaining strength against the bulls. However, the RSI has displayed a bullish divergence hinting towards a potential rebound. 

Therefore, Bitcoin (BTC) remains within a bullish range, provided the support at $95,000 is defended well. Otherwise, a pullback could lower the ranges close to $92,000, wherein a reversal is expected at $91,500. Hence, a pullback below $90,000 could be less viable until the bears do not intensify their action. 

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Podcaster Busted in Vegas After $2M Scam—A Fugitive’s Last Gamble

A podcaster turned crypto conman swindled investors out of $2 million, using fake businesses and pop culture references before vanishing—until a Vegas arrest sealed his fate From Podcast Fame to

Bitcoin Halving Trends Indicate 150% Max Gains For Current Cycle – Details

In the usual style of the high market uncertainty and volatility associated with the current bull cycle, the price of Bitcoin (BTC) fell to around $77,000 in the past week before rising by over 10%

Top Altcoins to Watch Next Week: Pi Coin, Pepe and Binance Coin (BNB) Prices Aim for Resistance Breakouts

The post Top Altcoins to Watch Next Week: Pi Coin, Pepe and Binance Coin (BNB) Prices Aim for Resistance Breakouts appeared first on Coinpedia Fintech News This week, the crypto market failed to

Ethereum Price Nears Critical 100-Day SMA – Will It Break Through?

Ethereum (ETH) has been on a slow and steady upward trajectory, inching closer to a crucial technical indicator: the 100-day Simple Moving Average (SMA) This level is more than just a line on a

Fake ‘Investment Education’ Crypto Scams Are Exploding—Regulator Issues Dire Warning

Fake “investment education foundations” use deceptive trials and bogus loans to scam cryptocurrency investors, North Dakota regulators warn Regulator Sounds the Alarm: Fake ‘Investment

Promises Made, Promises Kept

Last week America officially started a Strategic Bitcoin Reserve, but the Market doesn’t seem to care yet Last Week Macro Arguably Mattered More Than Policy Trump and macro dominated last week