Bitcoin News
By Steven Anderson
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Bitcoin Faces Resistance Near $112K. The latest correction began after Bitcoin failed to maintain momentum above the $113,500 pivot…
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Key Resistance Levels to Watch. If Bitcoin attempts a rebound, it faces immediate resistance at $111,500, aligned with the trend…
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Support Zones Under Pressure. If Bitcoin fails to reclaim $112,000, analysts warn of further losses toward lower support levels.
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Macro Headwinds Add to Market Uncertainty. The broader crypto market is also showing signs of weakness as global investors adopt a risk-off…
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Market Outlook: Consolidation or Further Decline?. Bitcoin’s current consolidation phase may persist through the week as traders weigh upcoming…
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Conclusion. Bitcoin’s latest decline underscores a cautious mood across global markets.
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Bitcoin (BTC) continues to face downside pressure as the broader crypto market struggles under a risk-off tone.
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According to data from Kraken, a bearish trend line is forming on the hourly BTC/USD chart, with resistance near $111,500.
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Technical indicators show that BTC has retraced more than 61.8% of its upward move from the $106,718 low to the $116,310 high, highlighting a deep short-term correction.
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A strong close above $112,500 could open the door for further upside toward $113,200 and possibly $113,500, where renewed selling pressure might emerge.
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However, for now, market momentum remains subdued. Trading volume has thinned as investors await macroeconomic data from the U.S.
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Below that, the $108,800 zone — corresponding with the 76.4% Fibonacci retracement of the prior rally — is emerging as a crucial defense line for bulls.
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Should bearish pressure persist, the $103,500 level represents the final line of defense before a broader market correction could unfold.
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The broader crypto market is also showing signs of weakness as global investors adopt a risk-off stance amid renewed geopolitical concerns and mixed economic indicators. U.S.
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Analysts note that Bitcoin’s recent dip aligns with reduced inflows into U.S.-based spot Bitcoin ETFs, which have seen declining demand in recent sessions.
The Currency Analytics
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