Bitcoin trades flat near $89,500 despite a nearly 6% weekly loss, showing signs of hesitant buying and weakening support. Technical indicators reveal a rising wedge pattern with risk of a breakdown toward $77,300, while long-term holders’ buying slows and miner selling intensifies. Key price levels to monitor are a daily close above $91,000 to ease downside pressure, or below $88,500, which could trigger further declines.

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