Bitcoin Trading Below $115K as Futures Market Shows Bearish Sentiment
Bitcoin is currently trading near $114,061, below the critical $115K resistance level and showing signs of weakness. Key observations include:
- Market sentiment has shifted to caution, exhibiting increased selling pressure.
- The futures market remains bearish, with net taker volume indicating aggressive selling.
- Analysts warn that negative catalysts could trigger long liquidations, intensifying bearish momentum.
- If Bitcoin fails to break the $115,724 resistance, a decline towards $110K is likely.
- Current price action lacks strong follow-through, with dynamic resistance from 50, 100, and 200-period SMAs.
- Market structure reflects bearish consolidation, with lower highs since late July.
- A breakout above $115,724 could lead to testing $117K; failure to do so increases correction risks.
The coming sessions are critical for Bitcoin’s short-term direction as it hovers near key support zones amid bearish futures sentiment.