Bitcoin Price Faces Critical Crossroads: Will $95K Hold or Break?

Bitcoin Price Analysis: Will BTC Hold $95K or Dip to $90K?

Bitcoin Price– After a brief 2.74% pullback in Bitcoin’s price over the past 24 hours, the cryptocurrency has returned to trading at $95,500. Currently hovering around the psychological level of $95,000, Bitcoin’s recent dip has led to market liquidations exceeding $200 million, creating renewed uncertainty.

Bitcoin Price Action: A Retest or a Trend Reversal?

Bitcoin’s recent failure to break the 50% Fibonacci level at $98,949 caused a quick pullback, reversing near the upper Bollinger Band around $98,200. The retracement, reaching the 38.20% Fibonacci level at $97,000, has now seen Bitcoin consolidate at the crucial $95,000 support zone. If Bitcoin fails to maintain support above the 23.60% Fibonacci level, a deeper pullback to the $90,000 range is possible.

However, the SMI Ergodic Indicator shows signs of bullish recovery, suggesting that Bitcoin may be poised for a potential bounce back.

ETF Outflows: A Sign of Market Sentiment Shifts?

Bitcoin ETFs also saw significant outflows recently, with U.S. Bitcoin spot ETFs losing $56.76 million on February 11. Notably, Fidelity was the largest seller with $43.60 million offloaded, while BlackRock remained the lone buyer, adding $23.80 million. This suggests mixed sentiment in the broader market.

Derivatives Market Signals Bullish Sentiment

Despite the recent pullback, the Bitcoin derivatives market is seeing an increase in bullish positions. The long/short ratio has risen, with 54.49% of positions now long, signaling increased optimism among traders.

Bitcoin Price Target: $99K or $90K Next?

Looking ahead, Bitcoin could face a critical decision at $95,000. If BTC manages to break the $98,949 resistance, a target of $99,000 is possible. However, failure to maintain support at $94,633 could send Bitcoin back toward the $90,000 mark. Traders should keep a close eye on these key levels for any signs of a trend reversal.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.