Selling Pressure is Increasing in Bitcoin: Is Support in Danger?
Geopolitical tensions and global economic uncertainties are causing investors to avoid risk, while the bearish market atmosphere continues to affect the crypto market. Bitcoin has been struggling to maintain its upward momentum recently.
🔻 BTC price has declined to $102,345, the lowest level in the last two weeks. If this support cannot be maintained, it is indicated that the price could drop to $97,658.
Bearish Expectations in Futures Are Increasing
Short positions in Bitcoin futures are increasing. According to Coinglass data, the long/short ratio has decreased to 0.95, indicating that short positions dominate the market and investors are primarily betting on a price decline.
📉 When the long/short ratio falls below 1, it indicates that a bearish expectation prevails in the market.
This situation indicates that Bitcoin may face more selling pressure in the short term.
Technical Indicators Support Bearish Outlook
The BBTrend (Bollinger Band Trend) indicator confirms that BTC is losing upward momentum.
The shrinking of green histogram bars indicates that buying pressure is weakening and the price is losing upward momentum.
The indicator remaining in the negative zone indicates that a long-term correction or downward trend may continue.
Critical Support: Will $102,000 Hold?
While BTC showed a short-term recovery, closing the day at $103,297, the overall trend is still downward.
If the support levels in the $102,000–$101,500 range are broken, there is a risk that the price could decline to $97,658.
On the other hand, if purchases increase, BTC may test the resistance of $103,952 and if it surpasses this level, a rally up to $106,295 may be possible.
Conclusion
Bitcoin is under selling pressure in both spot and derivatives markets.
Macroeconomic uncertainties
Deterioration in Investor Sentiment
Short positions in Artan
...creates a challenging short-term picture for BTC. Bulls need to defend critical support levels; otherwise, deeper corrections may occur.
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