BTC Update: The Consolidation Battle
The crypto giant, Bitcoin (BTC ), is currently in a tight consolidation phase, hovering around the $90,000 mark as global markets digest recent central bank policy. The cautious tone from the Federal Reserve regarding future rate cuts has tempered enthusiasm for risk assets like Bitcoin, leading to a temporary slowdown in momentum.
While institutional interest, notably from Spot Bitcoin ETFs, shows mild inflows, the geopolitical climate and lack of major economic catalysts suggest short-term stability might be the theme. Traders are now watching a key descending trendline for a definitive breakout direction. Will the bulls reclaim $92,000, or is a dip to the recent low of $89,260 imminent? Keep analyzing the charts!
What are your next targets for BTC?$BTC
