The Bitcoin currency continues to gradually recover part of its recent losses, as it surpassed the $89,000 levels today, after touching the $92,000 levels during the night hours, according to available data. This recovery comes as it attempts to move away from the recent lows it recorded.
The recent performance of Bitcoin:
Recent Sharp Decline: Last week witnessed a harsh drop for the largest digital currency, falling from levels above 96,000 dollars to its recent lows near 84,000 dollars earlier, after having lost the 100,000 dollar level.
Current Recovery: Bitcoin has started to gradually regain its strength, now holding above the 89,000 dollar mark, despite pulling back from today's highs.
General Situation: The current price remains far from the record level exceeding 125,000 dollars, and caution still prevails in the markets.
💰 Movements of Alternative Currencies (Altcoins)
While Bitcoin tries to hold its ground, alternative currency markets continue to show mixed movements, with some reports indicating that the recent sector collapse has left companies dealing in cryptocurrency storage as victims, reflecting a state of uncertainty in the market.
Is Bitcoin paving the way towards 90 thousand dollars?
After the sharp drop in early December that pushed Bitcoin below 90,000 dollars, surpassing the 89,000 dollar level is a positive step towards restoring confidence in the market. Analysts indicate that Bitcoin is currently trading between two critical walls:
Defensive floor near 80,400 dollars.
Resistance ceiling at 97,137 dollars to reset the bullish momentum.
