Bitcoin ($BTC ) is currently trading around $96,083.99, with a 1.44% decrease in the last 24 hours. The cryptocurrency has been experiencing volatility, with a 7-day range of $94,006.67 to $106,648.26.
*Key Observations:*
- _RSI (29.99)_ indicates neutral sentiment, approaching oversold levels
- _MACD_ suggests a bearish crossover, signaling weakening upside momentum
- 50-Day SMA is around $108,692.65, and 200-Day SMA is around $111,105.21
*Possible Scenarios:*
- _Bullish:_ Break above $100,000 could lead to further gains, targeting $107,000-$118,000
- _Bearish:_ Drop below $93,000 may trigger a sell-off, exposing BTC to $84,000-$85,000
According to analysts, Bitcoin's price is influenced by institutional outflows, technical breakdowns, and retail panic. The Fear & Greed Index hit 16 ("Extreme Fear"), indicating potential contrarian buying zones. Would you like to know more about the factors influencing BTC's price or get updates on the latest market trends?
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