Bitcoin Faces Resistance at $90,500 Amid Bullish Pressure
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 2h ago- Bitcoin Resistance: Bitcoin is facing strong resistance at $90,500, yet bulls are maintaining pressure, indicating a potentially bullish sentiment that could drive prices higher in the coming weeks.
- Major Altcoin Recovery: Several major altcoins are attempting to recover but are expected to face selling pressure at higher levels, reflecting market participants' focus on short-term profits.
- Historical Data Support: According to Coinglass, February has seen only three negative monthly losses since 2013, with a median rise of 12.21%, providing historical backing for Bitcoin's potential rebound this month.
- Market Dynamics Shift: Despite challenges in the cryptocurrency market, discussions about gold and silver on social media have surpassed those about cryptocurrencies, indicating that investors may be seeking short-term gains elsewhere.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
