Bitcoin is trading at $89,675.70, marking a 0.6% decline over the past 24 hours. The cryptocurrency faces resistance at $94,235 and support at $85,537. Technical indicators, including a bearish MACD and red histogram bars, suggest a downward trend. Coinglass data highlights $110.36 million in long liquidations compared to $16.94 million in shorts, indicating bearish market pressure. Despite this, Bitcoin has gained 3.7% over the last 14 days, providing a short-term positive outlook. Traders are also monitoring altcoins as market sentiment shifts.