Bitcoin Faces Bearish Momentum: Could Prices Fall Below $96K?
Bitcoin is currently trading between $96,512 and $97,121 with a market cap of $1.91 trillion and a 24-hour volume of $59 billion, signaling heightened market activity.
However, technical analysis shows bearish trends, with immediate support at $96,000 and resistance around $97,500. The cryptocurrency has seen a significant drop from $102,760 to $96,000, signaling potential further declines. If Bitcoin falls below $94,000, it could hit $91,000.
Despite some neutral momentum indicators, short-term charts lean bearish, while long-term moving averages suggest underlying resilience. If Bitcoin stabilizes above $96,000, a reversal may be possible.
Clever Robot News Desk 9th January 2025
