Bitcoin Price Analysis: Bearish Sentiment Persists but BTC’s Next Move Hinges on the Fed

Bitcoin remains trapped below key higher-timeframe resistance despite managing to stabilize above an important support region.

While the broader trend is still bearish, the latest recovery attempt is accompanied by a notable uptick in the Exchange Whale Ratio, suggesting larger players are becoming increasingly active.

Bitcoin Price Analysis: The Daily Chart On the daily timeframe, BTC continues to trade below both the 100-day and 200-day moving averages, which are positioned around the $68K and $72K regions, respectively.

The bearish alignment of these moving averages confirms that sellers still control the broader trend. Following the sharp breakdown in early June, Bitcoin has entered a prolonged consolidation phase between the $58K support area and the $66K resistance zone.