Whether the market has finally bottomed out is questionable in light of this BitcoinThe latest drop to $93,224. Although the strength of this support will be determined over the next few hours, demand indicators are starting to emerge due to notable changes in Binance's spot order book during the period. sale.

The main bids of $90,000 to buy were raised at $93,000 during the decline, indicating that buyers were willing to bear selling pressure at higher prices. Additional bids were placed approaching $92,000, suggesting that buyers were keen to avoid further declines and take advantage of lower costs. A positive indicator of the existence of fundamental demand at these price points is the liquidity of supply.

However, it appears that it was passive sellers who pushed the price into these supply zones during the recent sell-off using the momentum created by aggressive buyers. The sellers' control of the market during a decline is highlighted by this dynamic. It will be important to see if buyers can regain their power or if this dominance continues.

Technically, Bitcoin It is approaching important support levels; The 100 EMA provides a larger pullback area at $87,000, while $92,000 acts as a short-term buffer. For the market to change its position and pave the way for a return towards the $100,000 level, it is necessary to recover $96,000. In order to assess the strength of fundamental demand, the next few hours will be crucial.

This could indicate a potential bottom and the beginning of a recovery if buyers maintain the $92,000-$93,000 range and volume picks up. Bitcoin may see a more significant correction, if selling pressure continues and these support levels are broken. For now, traders should carefully monitor bid levels and trading volume as these variables will give them more accurate clues about Bitcoin's next direction. Although there is reason for optimism, caution is still necessary in such uncertain times.