Bitcoin Nears Breakdown or Bounce: What’s Next for BTC Price?

Bitcoin (BTC) is testing a key technical level after dropping from recent highs. At the time of writing, the asset trades near $93,000 with a 24-hour loss of 2%. Over the past seven days, it remains up by almost 3%.

After failing to hold above $95,000, the price declined by $3,000 within hours. This latest move places Bitcoin directly below its 50-week moving average, a level that has held as support throughout previous stages of the current cycle.