Bitcoin has been consolidating in a tight range of $91,700 to $94,490 since April 22, with indications suggesting this period may soon end. The divergence between rising open interest and negative funding rates in the futures market hints at a potential short squeeze. Currently, funding rates have dropped to -0.023%, indicating a growing sentiment against an uptrend, as many traders are betting on price declines. Analysts note that for a significant upward movement to occur, Bitcoin must establish $95,000 as a new support level. Without surpassing this resistance, consolidation may continue within the $93,000 to $95,000 range. Some experts highlight that if Bitcoin breaks through $94,000, it could lead to substantial upward momentum, possibly paving the way toward the $100,000 mark. Meanwhile, investment firms suggest that Bitcoin may remain within a narrow range while awaiting catalysts for price movement. Overall, the market anticipates a decisive breakout as macro conditions stabilize.

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