### Current Technical Analysis of Bitcoin (BTC)
#### Key Support Levels:
- **$96,000**: A significant support level that could act as a floor if prices dip.
- **$91,000**: Another critical support level that may provide a strong base if the price continues to fall.
#### Key Resistance Levels:
- **$100,000**: This level has been tested multiple times and could be a major hurdle for upward movement.
- **$110,000**: A higher resistance level that may act as a barrier if prices try to climb further.
#### Market Indicators:
- **MVRV Ratio**: Nearing historically high levels, indicating potential price pullbacks.
- **Bitcoin Dominance**: Declined from 53.7% to 51% in the last week, marking the beginning of an altcoin season.
- **Miner Reserves**: Bitcoin miners offloaded 85,503 BTC in the past 48 hours, pushing miner reserves to their lowest levels in months.
#### Market Sentiment:
- **Institutional Adoption**: BlackRock's iShares Bitcoin Trust (IBIT) has achieved $50 billion in assets under management in just 228 days, indicating strong institutional interest.
- **Macroeconomic Factors**: The upcoming U.S. CPI and PPI reports could influence BTC trends.
### Conclusion:
Bitcoin remains in a long-term uptrend, trading above the 200-day moving average. However, the current correction phase suggests that the price could deepen before the trend resumes. Traders are advised to wait for confirmation of a bottom at key support levels around **$95.8k** or **$91k**.
Stay updated and follow me for more insights on [Binance](https://www.generallink.top) to keep yourself informed with the latest trends and analyses!
---