On Tuesday, the cryptocurrency market continued its correction trend. According to Bitpush data, Bitcoin faced continued pressure after reaching a high of $95,000 in the morning, with a rebound in the afternoon failing to materialize, dropping below $91,000 at its lowest point, and currently trading at $91,646, down 2% in the last 24 hours. The altcoin market is even weaker, with over 90% of tokens among the top 200 by market capitalization recording declines.

Market analysis indicates that Bitcoin's drop may be related to an overheated leverage market, with rising funding rates leading to a bearish sentiment. Technical indicators suggest that Bitcoin may test the psychological level of $90,000, and could even dip to $85,000 to absorb previous gains.

Additionally, the Relative Strength Index (RSI) has fallen below 50, indicating that sellers are expected to dominate price movements in the coming week. Analysts believe that the important support for Bitcoin lies in the $85,000-$88,000 range, and a drop below this level could trigger large-scale liquidations.

TradingShot analysis points out that the recent correction was due to Bitcoin hitting the first real resistance of the bull market cycle, with the Fibonacci trend line becoming a key resistance level. Nevertheless, as long as the 1-week MA50 trend line remains effective, the cyclical bull market wave is still expected to continue.