#BTCOutlook
Over the past week, Bitcoin has experienced a decline of over 9%, with its price dropping below $95,000 on Friday. This downturn is partly attributed to significant outflows from Bitcoin exchange-traded funds (ETFs), which recorded the highest single-day outflow of $680 million, indicating potential profit-taking by investors.
Technical analysis presents a mixed outlook. Trading View's summary technical rating for Bitcoin is currently neutral, suggesting that market conditions are neither strongly bullish nor bearish. Investing.com's technical indicators also signal a 'Sell' recommendation, with moving averages and technical indicators aligning with this sentiment.
In terms of market activity, Bitcoin's 24-hour trading volume stands at approximately $12.21 billion, with a circulating supply of around 19.80 million BTC.
The market has stabalized quite nicely . This is the most crucial time we have to observe
1. if BTC successfully brraks above 98800 and holds the position the correction will probably be over.
2. Btc can still test 92k support or even 88k support. be aware of that.
the pull backs don't over so soon like this. avoid leverage trading for now or use sharp stoploss.
