Today, Bitcoin (BTC) faced selling pressure as Wall Street markets opened, causing its price to drop by 5%. Market data shows that Bitcoin’s price decline to $90,000 led to liquidating over $150 million of trading positions within a few hours. The price drop occurred as investors awaited new economic decisions. The proposal by Howard Latnik, the US Commerce Secretary, to review trade tariffs against Canada created market uncertainty. Analysts hope that Bitcoin establishes a higher price floor to return to the $100,000 resistance level. Analysis indicates demand zone from $86,000 to $84,000 has worked well and pushed BTC’s price to higher ranges. Moreover, the 200-day moving average has acted as support for the price. Although Bitcoin is under selling pressure, signs of an upward trend reversal are emerging. Analysts warn that the $96,000 resistance could be a significant price barrier for further upward movement, but if breached, BTC may experience further growth. Visit the digital currency live price page to monitor the prices of all tokens and cryptocurrencies in real-time.
