Bitcoin is facing a challenging period as it struggles to maintain momentum amid a gold resurgence, which has noted gains of nearly 5% this week. Analysts are observing Bitcoin's correlation with gold amidst broader macroeconomic shifts, resulting in a short-term slump despite potential for a wider BTC price rebound. Bitcoin's price remained stagnant around $95,000 while aiming for support near $93,500, failing to mirror gold’s strong performance. QCP Capital highlighted suppressed volatility in crypto markets, contrasting with the recent rally in gold, which surged nearly 3% as investors reacted to a weaker dollar. Traders speculate on Bitcoin's next moves, with potential scenarios including a decoupling from gold or a re-alignment with overall risk assets. Technical indicators show mixed signals, with a bullish MACD on weekly charts but bearish signs on daily ones. The upcoming Federal Reserve meeting is also a focal point, raising uncertainty regarding Bitcoin's short-term price action. Some analysts anticipate a potential drop to the $91.6k level, indicating caution among traders regarding Bitcoin's support levels.

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