Bitcoin struggles at $86,668 as bearish sentiment persists, altcoins like RedStone and Jupiter face steep declines

Bitcoin's price has been fluctuating around $86,668, with a market valuation of $1.71 trillion and $69.5 billion in daily transactional activity. The market sentiment remains bearish, with selling pressure persisting as bulls struggle to reclaim key levels. The market is highly uncertain, with neither bulls nor bears firmly in control. Moving averages reflect a mix of bullish and bearish signals, indicating indecision in the market.

Despite recent stability, Bitcoin faces strong resistance in the $92,000–$95,000 range. Longer-term moving averages and the moving average convergence divergence (MACD) suggest further downside, with bearish momentum likely to continue. The market decline has been significant, with Bitcoin's price dropping to $87,700 and Ethereum to $2,100. The overall crypto market has experienced a harsh bear market, down by more than $810 billion in value. Solana, Ethereum, and Bitcoin have all fallen considerably, reflecting the broader market sentiment.

The market has been grappling with the fallout triggered by the establishment of a Strategic Bitcoin reserve. Certain altcoins have captured investor attention, with RedStone (RED), Jupiter (JUP), and Sonic (S) emerging as some of the most-discussed assets. RedStone's price has been impacted by the general market decline, currently trading at $0.64 with a 33% dip. Its trading volume has exceeded $195 million, soaring by 1069% in the past 24 hours, reflecting high selloffs among market participants. If this continues, RED's price could plummet to $0.57. However, high volume during a price drop can also indicate potential accumulation by buyers looking to enter at lower prices, which may lead to a rebound. In this scenario, RED's price could bounce to $0.67.

Jupiter (JUP), the token that powers Solana-based decentralized exchange Jupiter, is one of today’s most searched altcoins. JUP’s price is down 5% over the past day, mirroring the market slump. During Friday’s early session, the token plunged to a one-year low of $0.56. While it has since recovered and trades at $0.60, selloffs remain significant