The digital currency market lives in a state of anticipation as Bitcoin continues to face strong selling pressures, as analysts believe that the continued trading below the support level of $ 110,500 may open the door for further decline towards lower levels, while hope remains in the return of buyers to control if the price succeeds in the apostasy above this level again.
The current bitcoin price
Bitcoin is currently trading at a level of approximately $ 110,400, which is a very sensitive level of the market, i.e. a drop without it that may enhance selling pressure and pay about 105,500 dollars or even less, while the success of the price in return is higher than it may give buyers a boost to restore control.
Show artistic signals
Bitcoin’s daily candle was closed, which indicates the possibility of continuing pressure in the upcoming sessions, and analysts warned that keeping the price below $ 110,500 may open the way for a larger decline that may reach a level of $ 100,000 if buyers do not interfere strongly.
Bitcoin’s hegemony has declined
In addition to the price pressure, the Bitcoin domination of the market showed a remarkable weakness, which is explained by some followers as a positive signal for recovery of alternative currencies. The more Bitcoin’s control over the market declines, the greater the opportunity for other currencies to attract investments.
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