Bitcoin has come under heavier pressure after failing to break the $98,000 resistance area, with price now moving further away from the $94,000 support level. The report cites cryptocurrency analyst Michael Poppe, who said that once $92,500 was lost, Bitcoin effectively moved back into a range it had occupied for an extended period, weakening the near-term setup.
In Poppe’s view, the loss of both $92,500 and $94,000 initially still left room for another attempt toward $98,000. The current structure looks different. He said the market now points to a deeper decline, with $85,000 emerging as the next important test zone. Altcoins have also remained under pressure, and the article notes that many have fallen to new cycle lows.
21-day and 50-day moving averages become the main technical focus
Poppe said Bitcoin’s technical picture does not look encouraging. Price made a modest test around $96,000, but the move was quickly rejected and the broader market turned lower. For a more durable recovery, he said Bitcoin would need to print consistently higher lows and reclaim the 21-day moving average.
He added that the final hurdle is holding the 50-day moving average while avoiding fresh lows. If that does not happen, he said the market could see a sharp acceleration in gold prices alongside a final deep correction in Bitcoin.
Analysts split between cautious optimism and staying on the sidelines
The article also points to Sunday’s Greenland-related tensions as an early signal for investors tracking macro-sensitive moves. It says this week’s news flow has created conditions for steeper declines, and that headlines often have a direct effect on price direction. Trump’s disclosure of private messages with world leaders was described as another factor that complicated the backdrop and added pressure to crypto prices.
Not every analyst has turned bearish. Mikybull still sees reasons for optimism, citing higher metal prices, gains in small-cap U.S. stocks, the possibility of liquidity injections from Japan, and the prospect of the Federal Reserve starting QE this year. Sherpa has taken a more cautious stance. He said price should theoretically move around current levels, but because of possible developments after the stock market open, he would likely stay inactive for now and simply watch, adding that he would be happy to buy if price moves higher.
The source also states that the information is not investment advice and reminds readers that cryptocurrencies remain highly volatile and risky.