The price of Bitcoin has been impacted by rising interest rates in America during the early trading session on Friday.
According to market analysts, Bitcoin's price has fallen slightly due to resistance at the 200-day EMA, which is an area of significant resistance for the cryptocurrency.
However, if Bitcoin does break through this resistance level, targets could be set for $84,000 and potentially even $95,000.
Institutional demand remains strong, with investors continuing to buy into the market, despite yield headwinds currently being a concern.
Experts advise traders to remain cautious with their position size and to look for opportunities to buy dips in the market.