$BTC ‌

Bitcoin opened yesterday morning around $92,800 and immediately entered a one-sided downtrend, with the bears dominating market sentiment. During the midday session, the price quickly dropped to $90,600, entering a brief consolidation phase. At this time, faint buying interest attempted to enter the market, pushing the price to rebound to $91,400 in the evening. However, the rebound momentum was extremely weak and failed to break through the lower boundary of the previous trading range. The market then saw a resurgence of selling pressure, and the price resumed its decline. In the early hours, Bitcoin accelerated downward to $89,200, forming a brief sideways consolidation at this level, with bulls and bears in stalemate. However, support was limited, and in the early trading hours today, the bears regained strength, testing lower levels to $87,700, creating a recent low in the correction phase before stabilizing. As of now, Bitcoin remains weak and volatile at low levels, with a 24-hour decline of 5.27%. Trading volume increased to $37.123 billion, reflecting concentrated selling pressure in the market. The current market structure shows a clear downward trend, with technical signals strongly bearish. The dark cloud cover pattern combined with a bearish moving average alignment creates a strong bearish resonance. After breaking below key moving averages and experiencing a death cross, short-term momentum has strengthened, indicating further downside risk. However, the extreme contraction in volume conflicts with the price decline, and the volume-price relationship has not confirmed the price trend, suggesting the market may lack sufficient selling pressure support. Key resistance levels are concentrated in the $91,000-$92,800 range, which is also under EMA resistance. If this range cannot be effectively broken, the weak market pattern may continue. On the support side, the $87,700 level provides temporary support; if broken, the price could further decline toward the previous low near $85,000.