Bitcoin Stalls Near Resistance, Signaling Potential Market Downturn

Bitcoin’s price currently stands at $95,700 after experiencing a slight dip over the past 24 hours. Over the last week, it has declined by nearly 10%, raising concerns about the short-term direction of the market. Notably, Bitcoin failed to surpass a significant resistance level, leading to a significant drop of 26% from its recent peak. This rejection suggests that the trendline may act as a formidable barrier to upward momentum, potentially impacting the future trajectory of Bitcoin prices. Traders are now watching closely for how the market will react.