Analyst: If Bitcoin Falls Below $90,000, It May Trigger a Deeper Pullback
According to CoinDesk, Bitcoin fell below the $95,000 mark during Monday's trading as macroeconomic uncertainty intensified and the upcoming Federal Reserve meeting heightened market caution.
FxPro analyst Alex Kuptsikevich stated that if the price continues to be under pressure, the key support levels below are $92,500 and $89,000; once it falls below $90,000, it may trigger a deeper correction.
Additionally, despite market volatility, the Bitcoin spot ETF launched last year recorded a net inflow of approximately $1.81 billion last week, indicating continued enthusiasm for allocation from both institutions and retail investors. On-chain data shows that the unrealized profit of long-term holders has approached 350%, which may pose potential selling pressure on the price.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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