Bitcoin has faced consistent difficulties in recent months, with recent recovery attempts falling short of expectations.

Leading cryptocurrency, currently quoted at $ 83,768, found resistance at $ 85,000 several times this month. This failure to break resistance is causing increasing uncertainty among investors.

Bitcoin investors are uncertain

Bitcoin’s fear and greed rate reveals a predominant feeling of fear among BTC holders. Since early March, this fear has intensified, as market conditions remain insensitive to positive signs. With the price of the stagnant bitcoin and struggling to recover the high impulse, investors’ confidence continues to decrease.

The current atmosphere is reflected in the general feeling, with many investors avoiding significant movements in the market. This indicator also suggests that Bitcoin holders are avoiding risky investments and refraining from participating in the market.

Bitcoin’s general macro impulse also points to hesitation among market participants. Active addresses on the Bitcoin network are at a lower level in almost two months, suggesting reduced engagement.

This fall indicates that holders are retreating and showing less interest in performing transactions or moving their coins. The lack of enthusiasm to participate in the network indicates that investors are uncertain about the future direction of the market.

Can the price of BTC exceed $ 85 thousand

Bitcoin is currently undergoing a low trend that has been persisting for three months, with the price hovering at $ 83,768. Despite several attempts to break the resistance of $ 85,000, Bitcoin failed to maintain the upward impulse. Repeated rejections at this level indicate significant resistance, which can result in more price stagnation.

If the feeling of low continues and the fear of investors remains high, Bitcoin may fall below the current $ 82,619 support. A drop to $ 78,481 is a possibility, extending the low trend and deepening losses to holders. This can further reinforce the feeling of uncertainty in the market.

However, if Bitcoin can break the critical resistance level of $ 85,000, this can trigger a rise towards $ 87,344. Successfully break this barrier can invalidate the current low perspective, pushing Bitcoin to $ 89,800 and providing a new perspective for cryptocurrency.