Recent market dynamics show that Bitcoin has shown signs of correction after experiencing a surge. Some analyses point out that BTC's price may face correction risks at the daily level, with important support and resistance levels between $94,100-$96,500 and $91,500-$92,500, respectively.
Although there are fewer coins rising overall compared to those falling, Bitcoin and some large-cap cryptocurrencies have received considerable attention and trading volume, indicating that investors may be adjusting their positions during the correction.
Technical Analysis:
From a technical analysis perspective, BTC may continue to experience volatility in the short term. The 30-minute chart shows that BTC is still in an extended downtrend, with no obvious divergence or central formation. It is recommended to wait and see in the short term, especially for spot investors.
On the daily chart, if BTC can stabilize above $97,000, it may indicate that the price is still in a healthy correction phase in the short term, but attention should be paid to the resistance levels above.
Influencing Factors:
Decreased Miner Income: The Bitcoin block reward halving event occurred recently, leading to a significant decline in miner income, which may affect the market supply and demand dynamics.
Market Sentiment: Current market sentiment is complex, with some investors waiting for clearer trend signals, while others are looking for entry opportunities during the correction.
The current trend of BTC shows some signs of correction, but in the long run, market confidence in Bitcoin remains relatively strong. Investors need to closely monitor the price performance at key technical levels, as well as changes in macroeconomic conditions and policies, as these factors can impact Bitcoin's price. In such a market environment, cautious operation and attention to risk management are key.#加密市场回调
