Bitcoin Struggles Below $106K Amid Key Support Level Watch
- Bitcoin’s price reached a new all-time high above $111,000 last week but has since fallen to $105,381.
- The current price marks a 1.2% daily increase and a 5.8% decrease from its peak.
- A critical support level for short-term investors is identified at $96,700.
- Recent transactions indicate institutional accumulation, with 24,000 BTC moved to two wallets linked to Tether-backed entities.
- The Crypto Fear & Greed Index remains neutral despite recent market movements.
Bitcoin’s recent price of $105,381 reflects a cooling-off period after reaching an all-time high above $111,000. Analysts highlight the importance of the $96,700 support level for potential market reentry.
Source (2.6)https://www.newsbtc.com/bitcoin-news/bitcoin-pauses-below-106k-as-analyst-reveals-key-support-level-to-watch/?rand=52377
