Bitcoin 
$95,650.36The price of ‘s price dropped 27 percent from its record levels, falling below $ 100,000 again, creating a cautious atmosphere in the markets with a close below the 50-week moving average. QCP Capital emphasized that this technical break created a significant change in investor psychology and volatility remained high. Analysts think that the $92,000 support and the futures gap on CME at $88,000 will be decisive in terms of possible reactions in the short term. Economic data to be announced with the reopening of the government in the USA is expected to make price movements even more volatile.
What are the Important Thresholds in the Technical Outlook for Bitcoin?
QCP CapitalAccording to ‘s latest report, Bitcoin is struggling to hold on to the important support line around $92,000. This region served as a strong bottom in the last quarter of last year and the first months of this year. At the same time, the unfilled CME futures gap near the $92,000 level raises the possibility of a technical reaction. However, the fact that the price has repeatedly encountered selling pressure in recent weeks indicates that a dense supply area has formed that could limit possible increases.
Increasing macro uncertainties and cryptocurrency marketThe slowdown in liquidity flow reduces the courage of buyers. The flow of economic data accumulated with the reactivation of the US government to the market will test the risk appetite. The $88,000 and $74,500 levels below the $92,000 support stand out as critical thresholds that will determine whether the possible downtrend will continue or not.
Market on Defense as Volatility Increases
cryptocurrency options marketThe cautious stance also draws attention. Bitcoin’s short-term implied volatility is above 50 percent, and the weight in options has shifted to the puts side. This trend shows that investors are looking for protection against possible downside risks.
On the macro front, the selling pressure in US indices strengthens the risk aversion tendency of investors. VIX indexThe fact that the value remains above 20 indicates that the incoming data may cause sharp movements in cryptocurrencies as well as stocks. Employment data due on Thursday and Friday’s PMI results could play a key role in determining Bitcoin’s short-term direction. Although there is talk of a limited reaction in the market at this stage, the main trend remains downwards.
