Bitcoin is currently priced at $90,442, with market trends indicating a slight bearish tilt within a range-bound movement. The Crypto Fear and Greed Index stands at 28, reflecting a fearful market sentiment. Despite recent support from spot buying and ETF inflows, the overall sentiment remains cautious.
Institutional activity shows mixed signals, with a lack of data from the Coinbase Premium Index suggesting a negative trend. However, Bitcoin ETFs saw a net inflow of $240 million yesterday, breaking a six-day streak of losses. Meanwhile, the Spot CVD has turned positive, indicating buying activity, but Futures CVD remains negative, highlighting a divergence. Open Interest has decreased by 0.37% over the past four hours, suggesting position liquidation.
In macroeconomic terms, USDT dominance has risen to 6.07, indicating risk aversion towards Bitcoin, while the DXY has slightly decreased to 98.93, providing a marginally positive influence on Bitcoin. Bullish scenarios could see Bitcoin rise to $92,500 if it surpasses $91,000, while a drop below $90,000 could target $88,000.
Bitcoin Hovers at $90,442 Amid Mixed Market Signals
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