Will $95,000 Sellers Derail Bitcoin's Comeback?
Bitcoin struggled to maintain its rebound near $95,000 due to significant seller interest and weakening momentum against risk assets.Summary
Bitcoin (BTC) faced difficulty continuing its rebound as it encountered a major area of seller interest concentrated around the $95,000 mark, causing momentum to weaken after hitting a high of $94,800. Traders noted a "passive seller" around $94,000 and a significant "big boy sell wall" at $95,000 on spot order books, suggesting a critical test for price direction. Meanwhile, macro assets performed strongly, with US stocks rising and gold reaching $4,491 per ounce, fueled by developments in Venezuela, and silver surpassing $80. QCP Capital suggested crypto's recent alignment with risk assets might signal a regime shift, potentially catalyzed by geopolitical events. Despite the immediate resistance, technical analysis indicates longer-term support, as BTC/USD held the bottom of a key range on weekly timeframes, requiring a close above $93,500 to confirm a breakout from the mid-term downtrend.
(Source：Cointelegraph)