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

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

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.

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

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

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

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.

Bitcoin Price Faces Critical Crossroads: Will $95K Hold Or Break?
Written by
sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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