Bitcoin’s price is currently exhibiting weakness after dropping below $95,000, with a rejection occurring between $98,000 and $99,000. The open interest in Bitcoin futures has seen a notable decline from $64 billion to $58 billion, indicating overleveraging despite the drop. The possibility of a price reversal is concerning, especially with large sell orders near the $110,000 level yet to be triggered. Technically, a confirmed double-top pattern indicates that a daily close below $95,000 could lead to further declines towards $92,000 and $90,000. The relative strength index suggests increasing selling pressure, and while short-term corrections around $90,800 are technically possible, some analysts predict potential liquidity sweeps even lower in December. Overall, Bitcoin traders are experiencing uncertainty regarding the direction of the price amidst strong market dynamics and overleveraged positions.

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