BITCOIN (BTC) PRICE TAKES BEARISH TURN, TARGETS $90,742!

Bitcoin's price has taken a bearish turn, targeting $90,742. Currently, the price is around $93,816, with a 1.37% decline.

This downturn follows a significant surge in 2024, with Bitcoin reaching the $100K milestone in early December, driven by the launch of Bitcoin Spot ETFs and the reduced supply following the fourth halving event in April.

Several factors contribute to Bitcoin's volatility, including regulatory uncertainty, global economic conditions, and investor sentiment. The expiration of $18 billion in Bitcoin and Ethereum options may also lead to sharp market moves and potential volatility.

To better understand Bitcoin's price movements, analysts use various indicators, such as:

Delta Top: Combines on-chain and technical inputs to forecast price trends.

Top Cap: Uses market cap and price information to predict price highs.

Terminal Price: An on-chain indicator that identifies actual user behavior and activity.

These indicators can provide valuable insights into Bitcoin's price movements, but it's essential to remember that cryptocurrency markets are highly unpredictable.follow @Crypto beans to learn more on bitcoin$BTC