Key TakeawaysBitcoin price weakens as leveraged unwinding and macro uncertainty pressure digital-asset marketsTechnical indicators remain negative and show strong downward momentumTraders are watching $93,000 and $91,214 as major support as market confidence remains low Immediate Market Drivers: Liquidations and Weak ConfidenceBitcoin’s decline followed over $303M in crypto liquidations, triggered by renewed concerns around Federal Reserve policy. Although this affected the broader market, Bitcoin underperformed, falling 5% compared to the wider crypto market’s 4.18% drop.Funding rates and leverage data suggest a significant reduction in bullish positioning, which has amplified downward swings. With open interest elevated, even small price shocks have produced outsized volatility. Technical Indicators Turn Decisively BearishData from the market dashboard shows a cluster of bearish technical readings:OscillatorsRSI (14): 27 — deep in oversold territory, yet without a clear reversal patternMomentum (10): –11,546 — confirming strong downward forceMACD Level (12, 26): –4,629 — highlighting persistent negative momentumWilliams %R (14): –94 — at extreme lows, showing intense selling pressureThese readings signal that the trend remains to the downside, despite oversold conditions.Moving AveragesShort- to long-term averages all remain well below recent highs:Source: TradingViewThe clustering of moving averages above current price reinforces downward market structure and indicates that buyers have not regained control. BTC Outlook: Key Levels to WatchAt the moment, Bitcoin is attempting to find footing near $93,000, but weak rebounds suggest persistent bearish dominance.Key support levels$93,000 — short-term testing area$91,214 — major Fibonacci support$90,000 — psychological thresholdAnalysts suggest that only a sustained close above the 20-day EMA would meaningfully weaken the current bearish momentum and restore confidence.
Anais
