Bitcoin (BTC) is currently facing significant resistance as it approaches a critical selling point at $95,000. The cryptocurrency experienced a slowdown in gains, particularly after reaching $94,800, its highest price since November 17. Sellers are actively working to suppress any upward momentum, marking this area as a major focus for market participants.
Market analysts are observing a "big boy sell wall" at the $95,000 level, which is causing hesitation in price movement. The market's response has been described as "choppy," with support levels around $93,500 remaining intact for the weekly close. There is speculation among traders regarding the selling pressure at $94,000, with many adjusting their positions accordingly.
In the broader financial context, US stocks are trending upward, and gold prices have reached $4,491 per ounce, buoyed by recent developments in Venezuela. Additionally, silver prices have surpassed the $80 mark, reflecting a year-to-date increase of over 13%.