Bitcoin is trading around $89,660, down roughly 0.65% over the last 24 hours, and the market feels heavy. This is not just a technical pullback
macro pressure is clearly building. Trading volume sits near $49.7 billion, with total market cap at $1.78 trillion, but sentiment remains fragile. The Fear & Greed Index is at 24 (Fear), showing traders are cautious and risk-averse.
From a technical standpoint, the $88,000–$88,550 zone is the key battlefield. Price is still holding above it for now, but it’s under visible pressure. A clean break below this support could open the door toward $84,000, and in a deeper risk-off scenario, even $70,000 cannot be ruled out. On the upside, immediate resistance sits at $90,000–$90,650. A true bullish reversal would require Bitcoin to reclaim and hold above the $92,000–$94,000 range.
Short-term indicators are mixed. The hourly RSI is elevated at 75, signaling overbought conditions and limited upside momentum. MACD shows a mild bullish crossover, but price is still trading below the 200-day moving average, which keeps the broader structure cautious to bearish.
