Bitcoin suffers a heavy blow, failing to breach $100K, leading to intense short-term fluctuations!
Bitcoin (BTC) attempted to break through $98,000 last night, but faced bearish resistance, failing to surge high and directly plummeting below $96,000, marking a multi-day low and triggering market panic.
You read that right: the strongest rebound in over two months wasted at a critical juncture.
Meanwhile, altcoins also weaken across the board:
SUI plummets -5%, falling back to $3.2
Overall market short-term enthusiasm cools down, bulls' morale shaken
Review of recent Bitcoin trends:
April 25: Bitcoin first attempted to break through the $96K high, entering a narrow fluctuation range ($93K-$95K)
Wednesday: Last support test failed, counterattack
Thursday: Breaks upper limit, surges to $97,500
Friday morning: Touches $98K, bears take the opportunity to counterattack, pushing back to the starting point
Although on-chain data shows new funds entering and chip distribution tending to concentrate, the $100K key level remains a 'mental barrier' that requires stronger fundamental drivers or sudden events to ignite.
Currently, Bitcoin is still struggling below $96K, market cap has fallen to $1.9 trillion, and the dominance rate of altcoins has risen to 61.7%.
Conclusion:
Technically, a 'breakout failure + high position pullback' structure appears, further declines need caution
The market enters a sensitive period, controlling positions + closely monitoring key support levels is extremely crucial!
