Bitcoin (BTC) trades just above $90,000, rising 0.8% in the past 24 hours, with trading volume up 15% to $79 billion. The leading cryptocurrency is facing horizontal resistance near $94,000, which has capped recent gains after hitting $95,500 in the past few days.
Analysts like Michaël van de Poppe say the latest correction was “manipulative” and note that prices are no longer breaking downward, maintaining a structure of higher lows and leaving the door open for an upward breakout in the coming days or weeks. Still, consolidation against the 200-period moving averages on the 4-hour chart and the horizontal resistance remain the main hurdles for a bullish momentum shift.
Gold is approaching new all-time highs near $4,400 per ounce, with year-to-date returns of 65%, creating bearish macro conditions for Bitcoin. Pressure from precious metals, combined with a 0.35% drop in the S&P 500 after the Fed’s decision, is temporarily limiting BTC’s upside. Experts agree that a stabilization in metals will be crucial for Bitcoin to resume a sustained uptrend.
This phase shows that, while Bitcoin remains volatile and constrained by technical resistance, the overall structure points to a short- to medium-term bullish trend. The next few days will be decisive in determining whether BTC can break critical levels and secure a new leg up.
Source: https://coinmarketcap.com/currencies/bitcoin/
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