Bitcoin continues to defend the crucial $95,700 support level despite mounting market uncertainty. Bears have repeatedly failed to break this key demand zone. The resilient price action has prevented further downside movement even as investor sentiment shows signs of deterioration.
Market participants are growing frustrated with Bitcoin's sluggish momentum below the psychological $100,000 threshold. Many had anticipated a more straightforward bull run. Instead, BTC has remained confined to a narrow trading range, leading to increasing signs of market fatigue as both bulls and bears struggle to assert dominance.
Recent data from CryptoQuant indicates the Bitcoin Futures Estimated Leverage Ratio has exhibited minimal change. This suggests a stabilizing futures market with reduced risk of forced liquidations. Lower leverage typically correlates with less extreme price volatility. When leverage remains constrained, the market experiences fewer sharp price movements caused by rapid liquidation events.
Bitcoin has demonstrated unexpected resilience following the Bybit hack. The exchange lost approximately $1.4 billion in ETH to attackers. This news initially sparked fear throughout the cryptocurrency markets. Yet Bitcoin maintained position above the critical $95,000 support level despite the negative headlines.
"The Bitcoin Futures Estimated Leverage Ratio is showing only a small change," noted analyst Axel Adler on X. This development indicates the futures market is finding equilibrium. The trend reflects a more controlled trading environment with decreased probability of market overheating. Historically, Bitcoin's sustainable rallies have emerged after periods of futures market stabilization.
Bitcoin traded at $95,700 following a volatile Friday session. BTC reached as high as $99,500 before dropping to $94,800 after news of the Bybit hack broke. The immediate challenge for bulls is maintaining the support zone through the weekend while building sufficient momentum to reclaim the $98,000 level. Breaking above this resistance could set the stage for another attempt at the elusive $100,000 mark.
If Bitcoin fails to hold above $95,000, increased selling pressure may emerge. A breakdown below this threshold would likely send BTC toward lower support at approximately $90,000. The coming week will be decisive in determining Bitcoin's short-term trajectory. Any definitive move could establish the direction for Bitcoin's next major price phase.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.