Is Bitcoin Losing Steam After Its Recent Breakout?

Bitcoin’s recent rally past the $90,000 mark has sparked optimism across the crypto market, but signs of weakening momentum are raising questions about the sustainability of this breakout. At the time of writing, BTC is trading near $94,600, but falling trading volume suggests waning buyer conviction. Without stronger inflows, the rally may struggle to continue, putting the current uptrend at risk.

Although Bitcoin has seen a solid rebound from its April lows and remains structurally strong—trading above the 50-day, 100-day, and 200-day moving averages—the lack of volume is concerning. Bullish traders are cautious, noting that volume has steadily declined since the breakout, a bearish sign in a market where conviction drives price action. Bitcoin is also hovering just below the critical $95,000 psychological level, increasing the possibility of a local top forming.

From a technical standpoint, the Relative Strength Index (RSI) is at 66—indicating positive momentum without entering overbought territory. However, unless Bitcoin can decisively break above $95,000 with renewed volume, a pullback is likely. A drop below the $90,000 support level, especially if it breaches $89,200, could push BTC back toward the $85,000–$86,000 range.

While long-term fundamentals remain intact, the short-term outlook is fragile. Investors eyeing a potential move to $100,000 must watch for stronger buying pressure and a decisive breakout above resistance. Without that, this rally risks losing steam.