Bitcoin hit a new high of $108,000 last week, but has now fallen to $94,500. The comments of Federal Reserve Chairman Jerome Powell have influenced the price action of BTC. Powell stated that the Fed will not buy BTC and that there may not be any more rate cuts in 2025. 💼

Some analysts think that the $94,000 support level is critical and that if this level is lost, BTC could fall to $90,000 or even $80,000. Others see this decline as a healthy correction and argue that BTC could continue its uptrend. 📈

The $94,000 support level could play a significant role in Bitcoin's future price action.