Bitcoin Price Analysis: What Will Happen to BTC if Crucial $90K Support Cracks?

Bitcoin continues to show surprising resilience as it pushes back around $90K amidst rising geopolitical tensions. With the Middle East conflict intensifying and global markets reacting cautiously, BTC is seemingly being treated as a macro hedge. The market narrative is shifting, with growing institutional attention around the ETF developments and increased volatility across risk-on assets.

Bitcoin Price Analysis: The Daily Chart

On the daily chart, BTC recently broke out of the descending channel it had been trading within for months. The breakout occurred after a period of accumulation near the $80K support zone, followed by a solid push into the $95K resistance. However, after reaching that zone, the price faced strong rejection, printing bearish daily candles.