Evaluation of Bitcoin's Value: Intensifying Sale Pressure as Bitcoin Struggles with $95K Resistance Level

Bitcoin is encountering increasing resistance around the $95K mark, signaling a possible market correction before a potential surge. After breaking past the 100- and 200-day moving averages, Bitcoin approached the critical $95K level, where bullish momentum began to fade, suggesting a possible pullback to the $90K zone.

This zone represents significant support, and if maintained, could set the stage for another bullish momentum. On a 4-hour timeframe, indications of a short-term correction were also observed. On-chain analysis reveals a pattern of negative funding rates even during rallies, indicating a lack of market confidence.

This pattern often leads to short-term pullbacks, which could eventually strengthen the overall bullish structure.