Bitcoin has found stability as it approaches the weekend, but analysts predict it could soon dip below the $100,000 mark despite positive Relative Strength Index (RSI) indicators hinting at a potential rebound.

Key Highlights:

• Bitcoin’s price remains around $107,000 as traders brace for potential further declines.
• Most forecasts suggest a drop to levels below $100,000.
• Bullish RSI signals indicate a possible recovery if the stock market rises next week.

Market Update
Market trend analysis with Bitcoin’s behavior

Data from Cointelegraph Markets Pro and TradingView reveals cooling price volatility, providing short-term relief after a substantial week of declines. However, there’s a consensus that the market is not ready for major upward movement without significant buyer interest and impactful macroeconomic changes.

Trader Crypto Tony forecasts, “Bitcoin might test the $95,000 level next,” indicating further declines are likely as the bearish sentiment persists.

The Crypto Fear & Greed Index has also fallen to its lowest since April, reflecting extreme fear among investors.

“Bitcoin has confirmed a bullish divergence on multiple timeframes, despite the overall negative sentiment in the market.” — Translation: It shows signs of strength while the market feels weak.

While current sentiment is quite bearish, the combination of technical indicators may suggest that a rebound could be on the horizon as stock markets stabilize. Investors are encouraged to conduct research before making any financial decisions.