"Bitcoin price briefly dipped below $90,000 overnight on Tuesday, its lowest level since April 22, before recovering to trade above $93,500 this morning. Currently, the Bitcoin price is trading at $93,794, semi-unchanged in the past 24 hours, with a $124 billion trading volume. It sits 1% below its 7-day high of $94,212 and 5% above its 7-day low of $89,188, with a market cap of $1.86 trillion, according to Bitcoin Magazine Pro data."
"Bitcoin price has fallen sharply below key support levels according to Bitcoin Magazine analysis, closing below $94,290 and erasing gains for 2025. The drops below the $96,000 weekly support signaled strong bearish sentiment, with bears firmly in control and the potential for further downside. Immediate support lies near the 0.382 Fibonacci retracement and the $83,000-$84,000 high-volume node, followed by the 2024 consolidation zone around $69,000-$72,000."
Bitcoin briefly dipped under $90,000 before recovering to trade around $93,794 with a $124 billion 24-hour volume and a $1.86 trillion market cap. Over 19.95 million BTC have been mined, exceeding 95% of the 21 million cap, with final fractions expected to be mined around 2140 as halving events slow issuance. Price action has broken key supports, erasing 2025 gains and signaling bearish sentiment. Immediate support sits near the 0.382 Fibonacci level and $83,000–$84,000, with thick resistance above $94,000 and multiple higher resistance zones that could limit any sustained rally.
Read at Bitcoin Magazine
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