Since the opening this week, the overall trend of Bitcoin prices has been downward, with the price consistently unable to stabilize at the 97,000 mark, let alone rebound and test the strong resistance at the 98,000 line. In the early hours, the price tested downward again, touching the short-term support at the 95,000 line before stopping and rebounding for correction.

According to market news, as investors reduce their risk exposure at the current price, BTC may enter a new bearish phase.

With Donald Trump taking office, BTC surged to an all-time high on January 20. The strong bullish momentum came to an abrupt halt, and since then, this flagship cryptocurrency has struggled to regain momentum, hovering below the 100,000 mark, with multiple bullish attempts resulting in failure, further intensifying market panic. If the bulls cannot form an effective counterattack, it may further fuel bearish sentiment, leading to a continued decline in prices.

In the short term, the focus remains on the 98,000 line; only if the price stabilizes above this level can it attempt to challenge the 100,000 mark again. Similarly, there is significant resistance at 97,000; if the price continues to face pressure, the bears will continue to push lower.

On Tuesday afternoon, Bitcoin's current price around 96,200 may allow for short positions, aiming to add to shorts at 97,000. The target remains unchanged, looking down to around 93,000! As for Ethereum, the short position set up at around 2,740 this morning has already gained some space and can continue to be held, targeting around 2,630!