The Bitcoin price dropped more than 3% in the last 24 hours, trading at $92,298.35, amid an overall market correction in the crypto space.
Bitcoin Price at Critical Support
Bitcoin is currently hovering above a key support at $90,884.93. If it falls below this point, it risks dropping to the next support at $88,444.73. However, maintaining above this level could signal a bullish sentiment, pushing towards the $93,904.24 mark and potentially up to $95,703.66 with sustained buying pressure.
Technical Analysis Favors Bears
Technical indicators on Bitcoin's 4-hour chart indicate that bears are still in control. The Relative Strength Index (RSI) is in oversold territory, indicating sellers' dominance. Meanwhile, the MACD line remains below the signal line, reinforcing the bearish outlook.
BTC Bull Token Expectations and Investor Strategy
BTC Bull Token is a new meme coin aimed at supporting Bitcoin. The coin plans BTC airdrops at price milestones of $150K, $200K, and $250K. Its presale has already raised over $2.7 million.
The drop in Bitcoin prices may be temporary amid expected new initiatives from the US, offering opportunities for future digital asset growth.
