Bitcoin dropped to around $91,530 from $93,750 after a third failed attempt to break above $94,500 in five weeks. The decline took it back into a trading range that characterized December’s pricing. The broader altcoin market saw steeper losses, with PENG losing 6.5% and XRP falling 3.5% with memecoins and privacy coins the worst-performing sectors. Bitcoin is now trading firmly back in December’s range, which saw various spikes between $85,000 and $94,500, even as it extended the decline that started in October.
The sell-off follows a failed attempt at breaking above $94,500 on Tuesday, the third in the past five weeks. Bitcoin and the wider crypto market succumbed to a wave of selling pressure during the Asia session, prompting a drop to about $91,530 at 10:00 a.m. UTC from around a local high of $93,750 at midnight.
The move underscores renewed caution as buyers struggled to sustain a breakout above a key resistance level. The sector-wide pullback highlights ongoing volatility across digital assets as participants reassess risk.
Leave a Reply