Cryptocurrency markets faced a significant setback as Bitcoin's attempt to break a three-week resistance ceiling failed. Despite a brief push above $94,500 that forced some short positions to close, the rally faltered, leading to a broad decline. This resulted in substantial liquidations exceeding $514 million and dragged down other major digital assets. The price action underscores that overcoming the $94,000-$94,500 resistance zone is critical for bullish conviction, with broader financial conditions providing limited support.
