Market Update

Bitcoin is currently in the midst of a substantial correction, down 14% from its recent all-time high. Yesterday's daily close marked a key shift, as it lost the Daily EMA25 for the first time since October. The price is now approaching a critical point at the 4-hour EMA200, currently at $96.2k, which could signal further downward movement if breached.

If Bitcoin fails to hold the $94k level (previous week's low), the next likely support zone is between $92k and $90k, where the wick from December 5th was formed. Traders are keeping a close eye on these levels to determine whether the price will stabilize or continue to trend lower.