NEW YORK / LONDON (IT BOLTWISE) – The crypto market is under pressure as Bitcoin and other leading cryptocurrencies face sustained selling pressure. Despite institutional support and a long-term positive outlook, short-term sentiment remains subdued. However, experts expect prices to stabilize soon.
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The crypto market is currently experiencing a period of uncertainty as Bitcoin and other leading cryptocurrencies face sustained selling pressure. Bitcoin, the largest cryptocurrency by market capitalization, is struggling to stay above the psychologically important $90,000 mark. Despite buyers’ efforts to stabilize the price, bears continue to apply pressure, causing market sentiment to decline.
Some analysts, including Morgan Creek Capital’s Mark Yusko, see the current situation as part of a bear market but expect a milder correction compared to previous cycles. Institutional acceptance and debasement of fiat currencies could be long-term positive factors for Bitcoin. Nevertheless, Bitcoin ETFs have recently seen outflows, indicating continued caution among investors.
While some experts like BitMine’s Tom Lee see signs of selling pressure exhausting and expect a bottom to form soon, the near-term forecast for Bitcoin and other altcoins remains uncertain. Ethereum, the second-largest cryptocurrency, is also facing challenges as it struggles to sustain above the $3,000 mark. However, a break above the 20-day EMA could signal a recovery.
Other cryptocurrencies such as XRP, BNB and Solana are showing similar patterns, with buyers attempting to defend key support levels. Market participants are eagerly watching to see whether the bulls manage to regain control and initiate a sustainable recovery. The coming days could be crucial for the direction of the crypto market as investors hope for signs of stabilization.
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