After a short-lived recovery, Bitcoin (BTC) is attempting to bounce from a crucial level to reclaim the $110,000 support. However, some analysts suggest that a retest of the $90,000 level could be the next stop for the cryptocurrency.
Bitcoin Drops To Weekly Lows
Bitcoin lost the $110,000 support for the first time in nearly two months, dipping below the lower boundary of its local range, between $108,700-$119,500. The flagship crypto hit an eight-week low of $107,900 on Friday afternoon, raising concerns for its short-term rally among investors.
Crypto analyst Ali Martinez suggested that the market is starting to show signs of fatigue, with Bitcoin Dominance displaying cracks after carrying “the bulk of the bull market momentum.”
To the analyst, BTC’s current price action signals a
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!