Bitcoin has come under fresh selling pressure after reversing near a major technical threshold, with the market failing to regain ground above $90,000. The source article says repeated rejection from the $94,000 to $98,000 zone has strengthened the bearish setup, and some analysts now see room for a deeper retracement toward lower support levels.
Resistance Between $94,000 and $98,000 Keeps Capping Price
Over recent weeks, Bitcoin has been unable to break through the $94,000-$98,000 range. That area is being treated as a strong resistance band, and in technical terms it has also been monitored as a neckline. The report notes that a failed head-and-shoulders completion, followed by a break of a bear flag, added weight to the downside case. In the last seven days, Bitcoin has fallen by more than 6%, while short-term buying attempts have not produced a lasting rebound.
Traders are now tracking support at $80,000, $75,000, and $70,000. Analyst Crypto Patel said the current technical breakdown suggests a possible 22% retracement. The article also points to $92,000 as an important recovery line; unless price can reestablish itself above that level, the near-term structure remains weak.
Liquidations and Macro Volatility Are Adding to the Decline
The move lower has also been amplified by derivatives market liquidations. According to the source, heavy unwinds in leveraged positions have accelerated the drop, while sharp swings in global currency markets and the U.S. bond market have reduced risk appetite and weighed directly on crypto assets. Near-term attention is centered on the upcoming Federal Reserve decision and earnings reports from major U.S. technology companies, both seen as key directional inputs for the market.
Moving Averages Create a Dense Overhead Barrier
Market data in the report shows the 50-day simple moving average acting as strong resistance near $90,000. Material Indicators said there is more than $50 million in liquidity just above that area, which makes upside attempts harder to sustain. The 21-day moving average, sitting around $91,500, is described as another pressure point for any short-lived rally.
There is also a chance that the 21-day and 50-day moving averages will produce a bearish crossover within the next month. In classical technical analysis, that kind of signal is often read as confirmation of a strengthening downtrend. BitBull identified the $87,500 “Active Investor Mean” as a decision zone. If that level is lost, $80,700 could become the next area in view.
Short-Term Cost Basis Sits High as a Fourth Red Month Looms
The source says short-term holders have an average cost basis above $96,000, a setup that can increase selling pressure whenever price rebounds into higher levels. Long-term holders, by contrast, remain in profit, with average costs around $56,000.
Analyst Aman said Bitcoin may be heading toward a fourth consecutive bearish month, something last seen in 2018. For now, the article says market observers do not see strong enough evidence to call a definitive bottom.