Bitcoin is facing renewed selling pressure, dropping below the critical $94,000 support level during early U.S. trading hours on February 24, 2025. The cryptocurrency, which recently peaked at $109,356, has been struggling to regain bullish momentum, with market uncertainty keeping price action volatile. Institutional buying interest has emerged, but broader market weakness and resistance near $98,500 continue to challenge recovery efforts.
As of the latest trading session, Bitcoin is priced at $94,703, reflecting a 1.04% decline in the past 24 hours. Its market capitalization stands at $1.89 trillion, with a daily trading volume of $13.51 billion. Intraday movement has ranged between $93,791 and $96,506, suggesting consolidation as traders assess the next significant price direction. On the daily chart, Bitcoin’s prior rally to $109,356 was followed by a sharp correction to $91,530, where key support levels have emerged.
The $91,000 to $93,000 range remains critical for maintaining upward momentum, while resistance at $98,500 must be reclaimed for any substantial recovery toward the $104,000 to $109,000 zone. A declining volume trend on the pullback suggests weakening selling pressure, though a failure to hold above current levels could accelerate declines toward $91,000. The four-hour chart shows Bitcoin’s recovery attempt from $93,833 to $99,508 before losing traction and retreating toward $96,000.
Resistance remains firm at $98,000 and $99,500, with support seen near $93,000 and $94,000. A retest of the $94,000 to $95,000 range may present buying opportunities, while a breakdown below $93,000 could open the door for further losses toward the $90,000 to $91,000 region. Short-term analysis on the one-hour chart indicates persistent weakness after Bitcoin fell from $99,508 to $94,805. Resistance is evident at $96,500 and $98,000, while immediate support lies between $94,000 and $95,000.
Traders may seek dip-buying opportunities around $94,500, though failure to reclaim $96,500 could trigger additional selling pressure, targeting the $94,500 region. Technical indicators remain mixed. The Relative Strength Index (RSI) is at 44, Stochastic at 45, and the Commodity Channel Index (CCI) at -100, all suggesting neutral conditions. The Moving Average Convergence Divergence (MACD) and momentum indicators signal potential bearish continuation, while moving averages across lower timeframes indicate downward momentum.
The 100-period and 200-period moving averages, however, still suggest longer-term bullish potential. Bitcoin’s immediate trajectory hinges on whether it can reclaim resistance levels or if selling pressure intensifies. A decisive break above $98,500 could pave the way for a move toward $100,000 to $104,000, while a drop below $94,000 could accelerate declines toward $91,000. Market participants are closely monitoring volume trends and institutional activity for further signals on price direction. – By CryptoWire News Desk.
