Bitcoin's current price action reflects a clear bearish trend across multiple timeframes, with persistent selling pressure evident in the technical indicators.
Bitcoin price remained under pressure on Tuesday after dropping sharply from record highs above $109,000 at the beginning of the week. BTC fell to lows of $96,318, following a session high of $97,286. Bitcoin now trades at around $96,700, down 1.3% over the past 24 hours.
However, despite the recent sell-off, BTC still trades at over 96% higher over the past thirty days.
Bitcoin price dropped lower on Tuesday, following a session high of $97,286. BTC fell to lows of $96,318, as prices continued to consolidate after last week’s record highs. Bitcoin now trades at around $96,700.
From the bear case perspective, bitcoin’s failure to hold above key resistance levels, combined with consistent sell signals across multiple timeframes, suggests that bearish momentum remains dominant. The lack of strong buying pressure and continued lower highs point to a potential drop below $91,500, which could accelerate selling toward long-term support levels near $83,000 to $78,000 if market sentiment does not improve.
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