Crypto Markets Face Downside Pressure Amid Rising Short Positions

Crypto markets have entered a period of renewed downside pressure as buyers struggle to sustain upward momentum. This shift in sentiment is evident across major cryptocurrencies, including Bitcoin and Ethereum.

On-chain data indicates increased selling pressure at recent highs, while derivatives markets reflect a rise in short positions.

The critical support zones for Bitcoin include the $90,000 level, which has been seen as both psychological and technical support. A break below this level could potentially open the door to further declines.

In contrast, resistance near $98,000 has held firm, capping any recovery attempts by Bitcoin.