The crypto market is under significant pressure with Bitcoin (BTC) dropping below important support levels. This decline was triggered by a new ban from China on the ownership of crypto assets, causing BTC to fall below US$105,000. Altcoins like Optimism (OP) also experienced a sharp decline of up to 9.3%.
📊 Technical Analysis Indicates Potential Further Decline
Despite accumulation activity by large investors (whales), technical indicators such as the Ichimoku Cloud show bearish signals. BTC is currently below the resistance of US$106,726, with the potential for further decline towards US$100,694 if momentum does not change.