Bitcoin Price Analysis: Is BTC’s Recovery Over as US Demand Turns Negative?

Bitcoin is trading around $83K after the rejection from the $86K to $90K resistance zone weakened short-term structure, while the Coinbase Premium Index has turned sharply negative, suggesting US-based buying demand may be fading. BTC is attempting to stabilize, but buyers need to reclaim nearby resistance to improve the outlook.

Bitcoin Price Analysis: The Daily Chart

Bitcoin’s daily chart shows a substantial recovery from the June lows near $58K to the recent highs around $86K. However, the rally has encountered strong resistance, and the latest price action suggests that sellers are regaining control in the short term.

BTC has been rejected at the $86K to $90K resistance zone, with the lower end of that zone, around $86K, acting as the immediate barrier to a renewed advance. A broader resistance area appears around $95K, which would matter if Bitcoin reclaims the nearer supply zone and resumes its recovery.

Still, the price is above the 100-day and 200-day moving averages, both currently near $72K, after a bullish crossover. Although BTC remains comfortably above these averages, their recent crossover and upturn reflect improved medium-term structure following the summer recovery. The moving averages could become important dynamic support if the correction deepens, but they are not immediate downside targets while the market remains above the nearer support zones.