Bitcoin is currently unable to firm its position above the $100,000 mark, encountering steady downward pressure. It hovers around a crucial support zone at $90,000. The failure to break this resistance might initiate further decreases, potentially moving towards the $80,000 level.
Although a bearish phase persists, significant selling by long-term holders isn’t evident. The SOPR metric suggests ongoing substantial profits though not at a peak. This holding trend indicates potential for price upticks, despite immediate bearish indicators present in the market.
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