Bitcoin has dropped below the critical $104,268 level, signaling the start of a market correction after an extended period of bullish performance. This pullback has caught many traders off guard as they had expected BTC’s upward trend to continue.
The shift in sentiment is driven by profit-taking, caution from institutional investors, and broader economic concerns affecting risk assets. Also, the breach of the $104,268 support level raises concerns about further declines, with lower support zones now in focus.
While the correction may feel unsettling, it is a natural part of Bitcoin’s volatile price movements. The next few weeks will determine whether the asset can regain stability and reclaim key support levels or if bearish momentum will persist, potentially leading to a more significant downturn.
Bearish Momentum Builds: Bitcoin Struggles Below $104,268
Bitcoin is currently trading below the critical $104,268 level, which increases the likelihood of more declines. BTC’s price action is showing signs of negative movement, with selling pressure outweighing buying interest. As BTC remains below this key support threshold, the risk of deeper corrections grows.
However, it’s also important to remember that corrections are a natural part of BTC’s price action, often presenting buying opportunities for long-term investors. If the asset finds support at these lower levels and stabilizes, there’s still potential for a rebound. However, the market remains cautious for now, with bearish momentum continuing to build as Bitcoin struggles to break back a
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Author: Godspower Owie
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