📉 Price $BTC
is decreasing below trend support amid leverage unwinding
📊 Bitcoin price has dropped to $88,218, down 1.2% in the last 24 hours.
🛡 The price fell below key short-term trend support as traders unwind leverage in the derivatives markets.
💰 Over the past week, Bitcoin has fluctuated between $86,319 and $90,475, currently sitting approximately 30% below its all-time high of $126,080.
⚙️ Spot activity has increased, with trading volume in the last 24 hours rising by 12.3% to $49.1 billion.
📅 Recent reductions in open positions indicate forced deleveraging rather than panic selling, suggesting a market recovery phase.
📉 Technical analysis shows strong resistance above and fragile support below, with the 20-day moving average now being significant resistance.
🔍 The 50-day average between $96,000 and $98,000 is now an important resistance level, while the 100-day average around $84,000–$86,000 is critical for maintaining the current decline as a mid-cycle recovery.