Bitcoin (BTC) Price Falls Below $95,000 Mark, Market Dominance Increases to 63.9%

Key Notes:

* Bitcoin (BTC) faced consolidation below the $95,000 mark while its market dominance continued to increase.

* The largest cryptocurrency was slightly down 24 hours and is currently trading at $94,450.

* Altcoins saw deeper falls than Bitcoin, which could explain the lower price volatility for the leading asset.

* The global crypto market cap fell slightly.

* US-based spot BTC exchange-traded funds started the week with strong inflows.

* According to SoSoValue, spot BTC ETFs recorded a net inflow of $425.5 million.

* Five of the 12 BTC ETFs saw outflows over the past week.

* According to data from SoSoValue, spot BTC ETFs recorded a net inflow of $425.5 million on Thursday, May 5.

* The inflows solely came from BlackRock’s IBIT fund, worth $531.2 million.

* Five of the 12 BTC ETFs — FBTC, GBTC, ARKB, BITB and EZBC — recorded over $105 million in outflows.

* According to data from SoSoValue, spot BTC ETFs recorded a net inflow of $425.5 million on Thursday, May 5.

* The inflows solely came from BlackRock’s IBIT fund, worth $531.2 million.

* Five of the 12 BTC ETFs — FBTC, GBTC, ARKB, BITB and EZBC — recorded over $105 million in outflows.

* investment products remained neutral despite a trading volume of $113 million.

* Macro and crypto analyst Jason Pizzino’s analysis of the Bitcoin price movements suggests a further correction to $92,000.

Bitcoin price movements suggest a further correction to $92,000.

suggesting a local top. If BTC falls below $92,000, the next target would be below the psychological $90,000 mark.

On the other hand, a rise above $96,000 could suggest breaking the $100,000 barrier.

At this point, Bitcoin needs both macro and micro catalysts to gain bullish momentum. Otherwise, a price correction will likely shake the crypto market again.