Bitcoin Price Slips as Bears Maintain Control Below $98K

Bitcoin ($BTC) has struggled to regain upward momentum after being firmly rejected near the $97,895 resistance level. Since that point, the price has been trending downward, forming a consistent pattern of lower highs and lower lows on the 2-hour chart. As of now, BTC is trading around $95,560—down approximately 2.4% from its recent high—with a 24-hour low of $95,423.

Despite multiple attempts to reclaim the $98,000 mark in recent days, Bitcoin failed to sustain any breakout, resulting in a local double-top formation—a bearish signal indicating waning buyer strength. While trading volume remains steady, increasing sell pressure suggests traders are taking profits from earlier gains.

If the decline continues, the next key support levels to watch are $94,270 and the psychologically significant $93,000 zone. A decisive break below these could pave the way for a deeper correction. On the flip side, a strong defense of the $95,000 level could trigger a short-term rebound toward the $96,500–$96,800 range.

For now, caution is advised. BTC remains in a consolidation phase, and unless it breaks above $98K with strong volume, the bearish bias is likely to persist.

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