After a sharp rejection near $98,000, Bitcoin is consolidating between $88,000 and $91,000. Analysts note a potential easing of bearish control, with key metrics suggesting seller exhaustion and renewed buyer aggression, although broader momentum indicators remain in negative territory.
Bitcoin saw a sharp drop to $87,000 after being rejected at $97,924 a week ago. The asset is now consolidating between $91,000 and $88,000 as the market reaches a decision point.
As of this writing, BTC traded at $88,870, reflecting daily and weekly declines. Despite a persistent weak structure, some crypto analysts remain cautiously optimistic about shifting momentum.
According to analysis shared by CryptoRus, Bitcoin’s Growth Rate Difference has improved significantly. This metric’s rise suggests seller exhaustion and more aggressive buying activity.
When this metric rises, it indicates selling pressure has cooled and markets are delivering more gains. These conditions signal a potential strengthening of underlying demand.
Analysis of the Bulls and Bears momentum shows a shift rather than a trend break. Although bears remain dominant, bulls have begun retaking positions, with a key momentum indicator rising for four consecutive days.
Data shows massive buy orders for Bitcoin at the $89,000 level. The Spot Taker CVD metric has remained positive over seven days, indicating strong buyer demand aiming to push the price back above $90,000.
If bulls sustain this momentum, the demand zone could pivot Bitcoin for another leg upward. For now, conditions suggest the market is in a cooling phase following a period of significant sell pressure.
However, bearish forces remain stubborn, as a bullish trend reversal has not materialized due to inadequate demand. Bitcoin’s SMI Ergodic Indicator has made a bearish crossover and fallen deeper into negative territory.
When this momentum indicator drops negatively, it signals a strong downtrend and a high likelihood of continued weakness. If sellers fight off the bull attempt, Bitcoin could drop toward $86,270.
Conversely, if bulls maintain current momentum, another indicator signals a potential recovery bounce to $93,000. The battle for market control continues as key metrics send mixed signals.
