$BTC

Phew, what a day for Bitcoin! 😬

Right now, BTC/USDT is feeling the pressure. It's currently trading around the $101,000 to $103,000 range, a dip of about 3% in the last 24 hours. 📉

The recent public spat between Elon Musk and Donald Trump 🗣️, and the "One Big Beautiful Bill" Act drama, definitely cast a shadow ☁️, sparking a "risk-off" sentiment across the markets, including crypto. 💥

Technical Tangles and Investor Jitters 📉

On the technical side, it seems BTC has broken below some local support levels and is grappling with a bearish correctional move. 🐻

Analysts are pointing to negative signals on the Relative Strength Index (RSI), suggesting weakening bullish momentum. 📉 If it dips below the crucial $101,000 mark, we could even see it target $98,000 or potentially even further down to the $92,000 area where a significant long liquidation cluster sits. 😱

This kind of political drama can make investors nervous, leading to quick selling. 🏃💨

Glimmers of Hope and Future Prospects ✨

However, it's not all doom and gloom. 🌞 Despite the short-term bearishness, some on-chain data shows robust Bitcoin network activity, with wallet creation 🆕 and large holder accumulation 🐳 surging, indicating sustained investor interest underneath the surface.

💪 Plus, some experts are looking at upcoming US jobs reports 📊, hoping for a weaker-than-expected figure to signal a cooling labor market and increase the likelihood of Fed rate cuts, which could be bullish for risk assets like Bitcoin. 🚀

So, while today is a bit rocky, the long-term outlook still has some optimistic whispers. 🤞 Could these underlying strengths help Bitcoin bounce back from this political squabble? 🤔