$BTC coin (BTC) Market

$BTC coin is currently trading at $103,968.33, marking a 1.87% decline over the past 24 hours. To assess the potential for a rebound, let’s examine key market indicators and trends.

Market Sentiment

The Fear and Greed Index has dipped from 65 to 61, reflecting a shift from extreme greed to a more neutral sentiment. This indicates that traders are becoming more cautious.

Key Levels

Resistance: $BTC is facing strong resistance around $106,000. A breakout above this level could signal the beginning of a bullish move.

Support: Immediate support lies at $105,000, with a crucial level at $103,706. A drop below this could open the door to further downside.

Market Dynamics

Ongoing US-China trade tensions have led to a risk-off environment, prompting broad sell-offs across digital assets. This sentiment shift has had a tangible impact on Bitcoin, with over $211 million in long positions liquidated during the latest selloff—highlighting increased bearish pressure.

Outlook

Short-Term: Despite the recent correction, sentiment remains cautiously optimistic. Historically, similar pullbacks have often preceded significant upward rallies.

Long-Term: Analysts continue to project bullish targets, estimating Bitcoin could reach between $220,000 and $330,000 in the long run.

Disclaimer: This update includes third-party opinions and does not constitute financial advice. It may contain sponsored content. Please refer to terms and conditions.

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