Bitcoin's price trajectory remains uncertain as whale activity and bearish predictions raise concerns. Recent whale movements have caused anxiety about rising selling pressure, as large amounts of Bitcoin transferred to exchanges often precede price drops. This has pushed Bitcoin's price to hover around $92,000, with resistance at $94,000.
Whale movements can also lead to market manipulation, where large investors trigger panic selling among smaller investors. This fear, uncertainty, and doubt (FUD) can cause significant volatility and discourage new investors from entering the market due to the lack of price stability.
Bitcoin's RSI indicator presents mixed signals. Historically, bear markets in Bitcoin have begun when the monthly RSI reaches 92. In the past, Bitcoin price increases have occurred at RSI levels between 80 and 92, followed by a correction. A further decrease in RSI could result in a pullback towards $85,000–$90,000 support levels. Conversely, an upward move in RSI could lead to a retest of the psychological level of $100,000.
Over the past day, Bitcoin's price has fluctuated slightly between $91,271 and $94,590. The price has dropped to $92,695, with trading volume increasing by 54.30% to $54.81 billion. Despite the decline, this indicates a rise in activity.The red areas on the chart likely reflect profit-taking, suggesting a cautious market. While buyer interest has provided temporary support near $92,700, bearish pressure remains evident around $94,000, preventing further price increases and threatening another drop.
Beyond these immediate concerns, Bitcoin's future is also influenced by macroeconomic factors. A potential recession in 2025, as suggested by Marko Bjegovic of Arkomina Research, could exacerbate the bearish scenario for Bitcoin. During the previous recession in late 2021 and 2022, Bitcoin's value plunged nearly 75%. Some analysts predict even steeper losses exceeding 90% if a recession occurs. These scenarios highlight Bitcoin's vulnerability to macroeconomic risks and policy decisions by organizations like the Federal Reserve.
In the near term, Bitcoin's price will likely depend on its ability to maintain support levels. Continued trading above $92,000 could lead to a return towards $94,000 or even higher, with $95,000 acting as a psychological hurdle. Conversely, a drop below $92,000 could see Bitcoin fall to $91,000 or even $90,000, intensifying the bearish sentiment.
January 2025, Cryptoniteuae