$BTC
Bitcoin appears to be in a consolidation / cautious recovery phase, with mixed signals — there’s potential for a rebound, but also real risks of further downside.
Why this trend appears:
BTC recently dropped from highs over US$ 120,000 and is now trading in the ~US$ 90,000–92,000 range, showing a significant pullback.
Some technical indicators — like a drop in short‑term holders’ SOPR — suggest capitulation, which in past cycles has marked local bottoms. This could point toward a possible rebound.
On the other hand, sentiment remains fragile: there’s an elevated probability (some traders estimate ~50%) that Bitcoin ends the year below US$ 90,000 if no strong catalyst appears.
For a bullish reversal to gain credibility, BTC likely needs to reclaim and hold above a significant resistance zone (approx. US$ 98,000–100,000). Until then, risk of another leg down remains.
