Bitcoin Seeks Fair Price Amid $80 Billion Market Losses

Bitcoin is currently facing downward pressure, with its price recently falling to $95,101, marking the third consecutive loss amid rising US treasury yields and a broader cryptocurrency market decline that saw over $80 billion wiped from total market value. Analysts suggest that Bitcoin's recent consolidation phase might soon lead to a bullish breakout, as it remains above $90,000 despite negative news, indicating underlying strength. Meanwhile, mixed reactions from investors are evident in the short-selling trends of related stocks, with overall short bets on crypto stocks increasing to $13.75 billion, reflecting cautious sentiment in the market. The Fear & Greed Index has dipped to 38, indicating a prevailing sense of fear among traders, while institutional interest continues to grow, with firms like Metaplanet planning to increase their Bitcoin holdings significantly. As Bitcoin navigates these fluctuations, it remains pivotal for investors to monitor market dynamics and upcoming economic indicators for potential shifts. Overall, the cryptocurrency market's volatility is apparent, but the resilience of Bitcoin could signal future gains.