Bitcoin’s $86K Resistance Continues to Challenge: Will $90K Be Achieved?

Bitcoin faces ongoing difficulty breaking past its crucial $86,000 resistance, raising questions about the possibility of reaching a notable milestone like $90,000. Despite recent market fluctuations, Bitcoin has failed to solidify its gains above this level over the past month. This lack of momentum is reflected in a dip in daily trading volume and a modest overall market cap increase. On the other hand, the ETF market saw some activity with VanEck filing for a new ETP product. The crypto space remains impacted by ongoing regulatory actions. While Bitcoin currently trades at $84,378, a brief surge to $85,000 in recent trading has triggered renewed optimism about potential price breakthroughs. However, analysts remain cautious, noting the persistence of a bearish trend as indicated by technical indicators such as the Moving Average Convergence Divergence (MACD). While experts like Ali have identified bullish signals on a weekly chart based on expected movements near $86,000, some question if sustained upward pressure will overcome resistance. The crypto market shows mixed signals with altcoins like Raydium showing positive gains in recent hours.