Bitcoin$BTC recently dropped to around $94,000, briefly wiping out its 2025 gains. pintu.co.id+2LatestLY+2
The Fear & Greed Index is deep in “extreme fear,” reflecting very cautious market sentiment. pintu.co.id
There’s talk of a potential death cross forming (i.e., a bearish technical crossover), which adds to macro and technical risks. TechStock²
Drivers to Watch
Macro Headwinds: Increasing hawkishness from the U.S. Fed is putting pressure on risk assets, including crypto. Investors
Long-Term Holder Selling: Data suggests long-term BTC holders are selling more than usual, which may indicate weakening conviction. MarketWatch
Institutional Flows: While institutional interest (via ETFs) has been supportive in prior months, outflows or slower inflows now could reduce buying pressure. TechStock²+1
Technical Outlook
#Key support zones are being watched around $93,500–$94,100. If these break, BTC could retest even lower support. pintu.co.id
On the bullish side, technical models suggest a possible breakout toward $138,000 if Bitcoin reclaims strong resistance. Blockchain News+1
But in the near term, caution is warranted: volatility is high, and a firm bottom or reversal hasn't yet been confirmed.
Conclusion
Bitcoin is at a critical inflection point. The sharp drop has shaken short-term bulls, and macro uncertainty is weighing heavily. However, some analysts remain bullish on a longer-term breakout, assuming institutional demand returns and key supports hold. For now, traders may favor defensive positioning, while long-term investors will be watching for signs of accumulation or a stabilization pattern.
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