Bitcoin bulls are working hard to hold the $94,000 support level, but sellers continue to dominate the market. The lackluster price action in Bitcoin, combined with growing trade tensions between the US and China and subdued expectations for interest rate cuts by the US Federal Reserve, appears to have dampened investor sentiment. 

This bearish outlook is reflected in the $1.14 billion worth of outflows from US-based spot Bitcoin ETFs over the past two weeks, according to SoSoValue data. Despite the uncertainty, Michael Saylor’s Strategy, formerly MicroStrategy, remains bullish, purchasing 20,356 Bitcoin for $1.99 billion at an average price of $97,514.

Bitcoin is currently trading in a narrow range between $100,000 and $93,388, showing that neither bulls nor bears are willing to take a strong position. The 20-day EMA is slowly sloping downward at $97,067, and the RSI is hovering just below the midpoint, giving no clear edge to either side. If sellers manage to push the price below $93,388, Bitcoin could drop toward the crucial support level at $90,000.

This level is significant because a breakdown below it would complete a bearish double-top pattern, potentially triggering a deeper correction. On the flip side, if Bitcoin bounces back and breaks above $100,000, it would indicate that the bulls are regaining control. In this case, the BTC/USDT pair could climb to $102,500, with a possible further push toward $106,500. However, buyers should be prepared for strong resistance near $109,588. Ether is struggling to gain momentum after failing to reclaim the $2,850 breakdown level on February 23, showing weak demand at higher price levels.

If the price remains below the 20-day EMA at $2,765, there’s a strong chance the ETH/USDT pair could decline further to $2,600, and possibly $2,500. Buyers will likely try to defend the $2,500 level aggressively, but if bears overpower them, the price could slump to $2,300. For the bulls to stage a comeback, they will need to push Ether above the downtrend line. A successful breakout could trigger a rally toward $3,450, with the potential to hit $3,750. Such a move would reopen the broader trading range between $2,111 and $4,094, giving Ether a shot at a more sustained uptrend.

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