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Bitcoin’s early bounce on Tuesday gave traders a brief moment of optimism, but it quickly faded as the market turned red once again. After recovering above $104,000 in the morning session, BTC failed to hold its gains and slid back below $102,000, showing signs of renewed selling pressure.
Analysts point to a mix of macroeconomic uncertainty and market fatigue after recent volatility. The weekend’s dramatic liquidations and a broader correction across risk assets have left traders cautious. The failed rebound suggests sentiment remains fragile, with investors hesitant to step in aggressively ahead of key U.S. economic data and potential Federal Reserve commentary.
Technical signals also reflect weakness. Bitcoin broke below its 50-day moving average earlier this week and hasn’t managed to reclaim it. Meanwhile, open interest in futures markets remains elevated, increasing the risk of more sudden swings driven by liquidations.
As BTC edges closer to the psychological $100,000 level, many traders are watching closely to see whether it will act as support or if more downside is in store. With altcoins also under pressure, the coming days may prove critical in shaping crypto’s short-term direction.
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