The price of Bitcoin has faced pressure, nearing the $96,000 mark. Market sentiment fluctuates between fear and neutrality, indicating uncertainty among traders regarding future actions.
Current BTC Market Situation
Following a brief upswing, Bitcoin's price has neared dropping below $96,000 again. Market sentiment has returned to fear, potentially sparking a new bearish trend. While BTC's dominance continues to rise, altcoins show relative stability.
Major Players' Actions and Price Pressure
Attempts by BTC to rise above $100K met significant selling pressure. This may indicate a prolonged bearish trend. Spot ETF outflows of around $500 million over the past three days might confirm this assumption.
Technical Analysis and Forecasts
Bitcoin price is consolidating within a narrow range, and technical indicators point to a continued bearish trend. RSI and CMF are heading south, possibly indicating weakening rally support and backing the bearish scenario.
Considering current data, Bitcoin's price may continue decreasing, reaching below $93,000 by the end of the month.
