Bitcoin (BTC)
BTC$103,884.50
It continues to struggle for direction amid the prominent degradation in retail investors’ sentiment, increasing macroeconomic pressure. According to Coindesk Research’s technical analysis model, the asset is close to $103,700 following a volatile 24-hour stretch and below $103,400 following a volatile 24-hour stretch. This price action reflects the uneasy market background shaped by both geopolitical tensions and uncertain monetary policy.
Feelings among retail investors have become very negative, according to an X post by Crypto Analytics company Santiment on Thursday. The company reported that the bullish to bearish commentary ratio fell from just 1.03 to 1. It is the lowest since early April when President Donald Trump announced the so-called Liberation Day tariffs, causing market fears at the time.
Santimento emphasized that this current wave of retail pessimism is unusually intense and could mark the opposite signal of price rebound based on past patterns. They specifically pointed out that Bitcoin recovered shortly after similar fear levels emerged in April, suggesting that large investors often use retail surrender periods to accumulate at a favorable price.
In addition to pressure, the Federal Reserve’s recent decision to stabilize interest rates has kept BTCOIN transactions in the relatively tight $100,000 to $110,000 range for the past month. On the other hand, on-chain metrics indicate that they point to the ongoing derevalization among derivative traders. At the same time, whale wallets have been steadily accumulating since 2023. This shows that despite short-term uncertainty, large holders continue to build their position.
Technical Analysis Highlights
- The BTC-USD trades in the 24-hour range of $106,552.98 to $102,411.01, with a 3.89% swing as the volatility spiked at noon.
- A sharp drop occurred between 14:00 and 17:00 UTC, with prices below $104,000 and a strong resistance of nearly $106,000 at above average volume.
- Support appeared between $103,000 and $103,500. There, the price was consolidated in a reduced amount during the final 8 hours of the analysis period.
- Later in the session, a V-shaped rebound was developed, with BTC rising from $103,363 to $103,618, establishing a local floor near $103,500.
- Short-term momentum indicators showed mild recovery as sessions closed near daytime highs, but follow-throughs remained limited.
Disclaimer: Part of this article is generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance Our standards. For more information, please refer Coindesk’s complete AI policy.