After dipping to $91,350, Bitcoin has sparked interest from buyers, maintaining its price. We explore the technical outlook of BTC.
Bitcoin Price: Current Situation
After diving towards the support of $91,350, Bitcoin's price rebounded into the $100,000 zone due to buyer interest. However, it failed to break this threshold. Nevertheless, BTC has managed to hold above $95,000, demonstrating strong buyer support.
Focus on Derivatives (BTC/USDT)
The open interest and funding rate of BTC/USDT perpetual contracts have recently been revised upwards, reflecting strong buyer interest affecting Bitcoin's direction. The CVD analysis shows a bearish trend, with signs of stabilization. Liquidations have remained limited on both sides, pointing to market stability and controlled volatility.
Forecasts for Bitcoin Price
If Bitcoin holds above $94,000, it may recover to surpass $100,335, opening the way to $102,500. Breaking this level could head towards $106,000 and eventually its ATH of $109,354. Conversely, if it falls below $94,000, support may be found around $92,200, with possible declines to $90,000 and $88,000.
Despite a correction phase, Bitcoin shows signs of stabilization and retains rebound potential. Buyers remain present, indicating possible recovery in upcoming movements. It is essential to monitor price reactions at strategic levels to confirm or adjust current forecasts.
