Bitcoin Holds Near $89,500 Amid Weak Market Demand

Market data showed Bitcoin hovering around $89,533, down nearly 2% compared to last week’s close. Analysts noted that buying momentum remains limited, keeping BTC locked in a narrow trading range. They said uncertainty around global monetary policy and mixed signals from major economies are weighing on investor sentiment.

Resistance for Bitcoin is currently seen near the $94,000 mark. Analysts said a sustained breakout above this level could open the way toward the psychologically important $100,000 zone, with further upside potential toward $107,000 if momentum strengthens.

Macroeconomic Factors in Focus

Recent interest rate cuts and bond purchases by the US Federal Reserve have injected additional liquidity into global markets, offering some support to risk assets such as cryptocurrencies. However, experts warned that policy shifts in Japan and other major economies could increase volatility and cap short term gains.

Ethereum remained relatively stable, holding support between $3,005 and $3,250. Analysts said a move above near-term resistance could push ETH toward $3,295 and later $3,520, provided overall market sentiment improves.

Outlook

Analysts believe Bitcoin’s near term direction will depend on whether fresh demand enters the market. Until a clear breakout occurs, prices are expected to remain range-bound amid cautious trading.