Bitcoin gives up $90K at US open as two-week exchange outflows near 35K BTC

💡 DMK Insight

Bitcoin’s inability to retest the yearly open signals potential bearish sentiment, and here’s why that matters: The recent sell-side pressure from the US has reintroduced volatility, which traders need to watch closely. A failure to reclaim the yearly open could lead to further downside, especially if we see sustained selling momentum. This scenario may trigger stop-loss orders and exacerbate price declines, making it crucial for day traders to monitor key support levels. If Bitcoin breaks below its recent lows, it could open the door for a more significant sell-off, impacting not just BTC but also correlated assets like Ethereum and altcoins that often follow Bitcoin’s lead. On the flip side, if Bitcoin manages to stabilize and mount a recovery, it could present a buying opportunity for swing traders looking to capitalize on a rebound. Keep an eye on the 24-hour trading volume and any shifts in market sentiment that could indicate a reversal. The next few days are critical—watch for price action around the yearly open as a potential pivot point.