Bitcoin (BTC) recovers slightly and is trading above $93,000 on Wednesday after declining 6% since Monday.
Bitcoin price today:$93,800 Bitcoin recovers slightly and trades above $93,000 after a recent pullback this week. US spot Bitcoin ETFs experienced a second straight day of outflow of $122.80 million on Tuesday. Reports highlight that BTC could undergo a re-accumulation phase before sustained price increases occur. Bitcoin recovers slightly and is trading above $93,000 on Wednesday after declining 6% since Monday.
If BTC fails to recover and the pullback continues, it could extend the decline to retest its important psychological level of $90,000. A successful close below this level would extend an additional decline to test its next support level at $85,000. Moreover, the Relative Strength Index indicator supports this price pullback in the daily chart. The higher high in BTC’s price formed on Friday does not reflect the RSI lower high for the same period.
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