Bitcoin Price Faces Downward Pressure as Market Sentiment Wanes – BitRss

Bitcoin’s price continues to hover around $97,700, largely influenced by a decline in U.S. markets. The altcoin sector is also entering a new downturn, with traders struggling to maintain their positions in a bleak environment. Recent comments have further fueled this sense of despair among altcoin investors, prompting a closer examination of the current market dynamics.

Potential Declines for Bitcoin (BTC ($97,716.03))

Bitcoin $97,575 is experiencing fluctuations around $97,250, and while it fails to uplift altcoins during rises, it consistently paints their charts red with each decline. In a recent market evaluation, TheFlowHorse presented a graph suggesting that those optimistic about a price increase might be mistaken. If their predictions hold true, BTC could face a more significant correction, potentially leading altcoins into a situation reminiscent of the drastic downturn in 2020.