$BTC

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BTC/USDT seems to be forming a potential demand zone around the $95,600 – $96,400 range. Here’s what could happen next:

Possible Scenarios:

Bullish Breakout (Reversal to the Upside)

The price is consolidating with moving averages (MA7, MA9, MA12) flattening, indicating a possible accumulation phase.

If Bitcoin breaks above the immediate resistance at $96,880, it could push towards $97,500 – $98,500 in the short term.

RSI is stabilizing, meaning buying pressure might increase soon.

Bearish Breakdown (Further Decline)

If BTC fails to hold above $96,000, it could test support at $95,600 or even lower at $95,000.

The 200 MA and 300 MA are still above the current price, acting as resistance, which may limit the upside.

Key Levels to Watch:

Resistance: $96,880, $97,500, $98,787

Support: $96,000, $95,600, $95,000

Conclusion:

If BTC holds the demand zone and volume increases, an upward move is likely.

If selling pressure increases and BTC loses $95,600, further downside is possible.

As of February 9, 2025, Bitcoin (BTC) is trading at approximately $96,487, experiencing a slight decrease of $9 from the previous close.

Recent market movements have been influenced by various factors:

U.S. Employment Data: The U.S. economy added 143,000 jobs in January, below the forecasted 170,000. This weaker job growth initially led to a rise in Bitcoin's price, surpassing $100,000, as investors anticipated potential shifts in monetary policy.

Global Trade Tensions: Ongoing trade disputes, particularly between the U.S. and China, have increased market uncertainty. Such tensions often drive investors toward alternative assets like Bitcoin, though recent analyses suggest that if these disputes persist, Bitcoin's price could potentially decline to $80,000.

Regulatory Developments: Under President Donald Trump's administration, there is a push to integrate cryptocurrencies into traditional banking.