Bitcoin is encountering selling pressure around $95,000 and is being challenged by the rising price of gold. Traders are now watching to see if Bitcoin can close the week above $93,500.
Bitcoin’s price has struggled to break through $95,000, as many sellers stepped in to prevent it from rising further.
The cryptocurrency’s price recently stalled as it neared a key level. Traders are now watching closely to see if Bitcoin can push higher, or if it will be stopped at this point.
Bitcoin Encounters Resistance at $95,000
Bitcoin price struggled to maintain its rally as it neared the $95,000 mark.
A significant number of sell orders suddenly appeared, stopping the price from going any higher. This price level is now important for traders because if the price can’t move above it, the value could start to fall.
As a researcher, I’ve been closely watching the $95,000 level, and it’s clearly become a critical price point for Bitcoin traders. I’ve observed a large number of sell orders clustered around this price, which is currently hindering Bitcoin from continuing its upward trend.
Because of this, Bitcoin’s price has stopped increasing and remains below a crucial level it’s been struggling to surpass.
The market is showing some erratic price movements, particularly now. There’s strong demand to buy, but also significant selling pressure around the $94,000 mark.
Traders who were betting prices would go up noticed a slight signal around $94,000 and quickly closed their positions. This then allowed those betting on a price decrease to start taking new positions.
— Skew Δ (@52kskew)
Traders are watching to see if Bitcoin can break through the $95,000 level. It might stay below that price unless there’s a significant surge in people buying it.
This price point remains a crucial area for Bitcoin’s near-term price direction.
Struggling Against Gold’s Strong Performance
Bitcoin’s growth has been challenged by traditional investments, especially gold. When gold prices reached $4,491 an ounce, Bitcoin’s upward trend slowed down.
Bitcoin is working to become a reliable long-term investment, but gold’s consistent value has made that difficult.
Although both Bitcoin and gold are considered alternatives to traditional money, gold has historically provided better returns.
Bitcoin’s price hasn’t risen as quickly as gold’s, as investors increasingly focus on gold. This trend is putting more strain on Bitcoin.
In addition to the sell wall at $95,000, Bitcoin faces the challenge of competing with gold.
Whether Bitcoin can succeed against other cryptocurrencies will depend on it overcoming price hurdles and establishing itself as a reliable, long-term investment.
Related Reading: What Happened With Bitcoin This Year? 2025 BTC Roundup
Focus Shifts to $93,500 for Weekly Close
Bitcoin is now aiming to close the week around $93,500. This price is currently acting as a key support level, meaning it’s a price point that could prevent further drops in the short term.
A close above $93,500 would signal a potential breakout from the current range.
According to trader Rekt Capital, the $93,500 price point is crucial for understanding where Bitcoin’s price is headed in the short term.
If Bitcoin’s price stays above this point, it suggests prices are likely to rise. But if the price drops below this level, it could fall even further.
Like all worthwhile developments, it took a while, but Bitcoin has successfully defended the lower limit of its weekly trading range.
As an analyst, I’m observing a significant upward trend in Bitcoin. It’s moved strongly throughout its recent trading range, and now appears to be attempting to break out to new highs.
If Bitcoin is able to Weekly Close above the…
— Rekt Capital (@rektcapital)
The $93,500 level represents Bitcoin’s yearly open for 2025.
If Bitcoin stays above this price point, it could signal the end of the recent price decline. Right now, traders are closely watching this level to see if Bitcoin can maintain its value.
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2026-01-07 07:01