The latest Bitcoin price pullback toward $90,000 was likely a buy-the-dip opportunity and in line with previous bull markets, several key market metrics suggest.
Bitcoin (BTC) latest rebound from the Nov. 26 local low of $90,742 has seen it reclaim $95,000. The recovery has also been witnessed across the broader cryptocurrency market, with the total market valuation rising 7.3% between Nov. 26 and Nov. 28 to $3.32 trillion.
Market participants are now looking for clues on whether Bitcoin has found support at $90,000 before continuing its march toward $100,000.
Bitcoin’s recent drop from its new all-time high of $99,655 reached on Nov. 22 to a weekly low of $90,742 on Nov. 26 could be attributed to a decrease in demand from the United States. That was evident by a sharp drop in the Coinbase Premium Index over the same period.
