Bitcoin faces pressure as retail investors lose confidence and macro stress builds.
- Bitcoin dropped below $104K before recovering slightly.
- Retail sentiment is at its lowest since April 2024.
- Whales continue to accumulate despite weak short-term trends.
Bitcoin Struggles to Hold $104K
Bitcoin (BTC) traded around $103,700 after a volatile day. It briefly dipped under $103,400, then climbed back slightly. The movement shows rising uncertainty in the market. Analysts say this is due to global tensions and unclear interest rate policies in the U.S.
Retail Investors Turn Bearish
Sentiment data from Santiment shows that retail traders have become strongly negative. The firm said bullish-to-bearish messages on social media are at their lowest ratio since April 2024. This was when U.S. tariffs under the Liberation Day plan hurt markets and triggered fear.
Interestingly, Bitcoin recovered a lot soon after that previous drop. Analysts say big investors often buy during these panic moments. This trend could mean another price jump might be coming if fear continues.
Technical Patterns and Market Stats
Over 24 hours, BTC moved between $106,553 and $102,411 — a wide swing of almost 4%. The price dropped sharply during the afternoon hours and hit strong resistance near $106,000. Support formed around $103,000 to $103,500 later in the day.
Late in the session, Bitcoin showed a small bounce, forming what traders call a V-shaped pattern. However, follow-through has stayed weak, and many are unsure if it will rise again soon.
Other Market Signals
The Federal Reserve recently kept interest rates unchanged. This decision has kept Bitcoin stuck between $100,000 and $110,000 for weeks. On-chain data also shows that open interest is falling on Binance, a sign that traders are pulling back from leveraged bets.
In contrast, large holders, or whales, have continued to buy and hold BTC since 2023. This long-term buying shows confidence among bigger players, even if short-term moves are uncertain.
Source: coindesk.com
