As we noted yesterday, despite the efforts of sellers, derivatives market metrics indicate a confident sentiment in the bitcoin holder market.

Beyond that, global trends need to be taken into account. The year 2024 has been a watershed year for cryptocurrencies, which have evolved from a niche segment to an influential force in the global technological and financial environment. In a world plagued by inflation, the bitcoin price rose sharply after halving in April 2024, increasing by 126% and realizing the standard post-halving scenario.

This does not necessarily mean that we will not see a drop in quotes or that sell trades are impossible. However, it is necessary to take into account the fundamental trends when planning short positions.

Technically, the price may encounter support in the zone of $88000 mark when declining.