Bitcoin’s Trajectory: Analyzing the Price Drop & Looking Ahead

After a brief decline, Bitcoin has reached the crucial $94K-$96K range. This level is significant as it marks the intersection of technical and historical patterns that could signal either a prolonged accumulation phase or further price correction. 2023’s performance points to increased market demand, with institutions increasingly investing in DeFi platforms. This has pushed prices up from their previous all-time lows but also exposed areas of weakness in technical support.