According to ChainCatcher news, reported by Cointelegraph, Bitcoin has dropped to an intraday low of $92,500, and analysts warn that if the $90,000 support level fails to hold, the price may continue to decline in the short term.
Burkan Beyli, co-founder of Biyond, stated in an interview that if Bitcoin falls below $94,000, the next target would be a drop to $81,000 within five weeks. To achieve this bearish scenario, Bitcoin needs to close below $95,180 next week. Bears may take action when the CPI data is released.
Overall, I have a bearish outlook on cryptocurrency in the short term (within 4 to 5 weeks), but I remain bullish in the long term, as I expect the DXY to correct after Trump takes office.
