https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqBJa5IJc4x9vymNh9gEnkF1yEzaxgi6Fe1jUm89pnU6hXIj3MLzKeW6bp-M7sgJziw_tlUycqCyJvjqEz8n0gwCoDNEA5qzR1IcEH56Th8tM3X9Rort1DezLpRhWMw64lMp5AiQ25zAiRdRAcWwF3xpdxNVLNnWBC4KwU9OQvkJGVeZCLeShDT-dvYdDx/w638-h640/Screenshot_18.jpgBitcoin’s price has been moving within a narrow range after falling below the $100,000 mark on February 4. Since then, it has been fluctuating between $94,000 and $100,000 without a clear trend. Investors and traders are closely watching the market to see if Bitcoin will break out of this consolidation phase or continue moving sideways.
Crypto analyst Ali Martinez has pointed out that Bitcoin’s price recently dropped to $93,000 before recovering above $95,000. However, he warned that Bitcoin faces a significant resistance level at $97,000, where 1.88 million BTC are being held. Meanwhile, the support level at $94,500 has only 695,000 BTC backing it. This imbalance suggests that there is more selling pressure than buying demand, increasing the chances of Bitcoin declining further before seeing a potential rise.
Martinez also noted that a drop in Bitcoin’s mining activity has historically led to longer price corrections. This means that Bitcoin could still experience a further decline before it starts another upward trend. When mining activity decreases, it often signals that miners are not as confident in immediate price gains, which can slow down any potential recovery.
https://www.cryptocrit.xyz/2025/02/crypto-experts-predict-possible.html 