Bitcoin has decreased in price by 4% within the last 24 hours, falling below $95,000 and currently trading at $94,351. The market is dominated by sellers, and the price may continue to drop to the $80,000-$85,000 range unless it surpasses the $100,000 resistance level. Ethereum has shown a significant increase, rising above $3,500 and settling at $3,434, gaining almost 2% within the last 24 hours.
In contrast, Solana (SOL) has fallen almost 6% and slipped below $250. The overall cryptocurrency market cap has decreased by 2.80% and is currently at $3.25 trillion. However, several factors may still contribute to Bitcoin’s potential rise above $100,000. Analysts point to profit-taking by investors and too much leverage as some of the reasons for the stall in Bitcoin’s rally.
Despite this, the current market sentiment remains elevated, and the rally may be a bull market correction rather than a change in trend. Bitcoin valuations are still far from being excessive, and investors should remain cautious and consider the potential for a bull market correction while keeping an eye on market sentiment and positioning.
Source
<p>The post Bitcoin Price Woes: $95K Drop & Potential $80K-$85K Range Ahead first appeared on CoinBuzzFeed.</p>
