#MarketPullback

The#cryptocommunity has had a real honeymoon after Donald Trump won the US presidency, where he made many promises about the market, its regulation, support, and the possibility of making Bitcoin a reserve asset in the US Treasury.

However, after the Federal Reserve Chairman's speech in the past hours and denying the possibility of the US Reserve storing Bitcoin, the Bitcoin price reacted negatively, and the decision not to cut interest rates significantly in the future also affected the Bitcoin price.

Another negative factor that affected the current movement of the crypto market is the large outflows from Bitcoin funds, indicating a clear change in investor behavior.

Currently, attention is focused on the extent to which Bitcoin can maintain the $94,000 level or whether it will visit the $85,000 level soon before rebounding.

On the other hand, many analysts believe that the current correction is nothing but a natural thing within the bull market cycle, as both analyst Captain "Fibrek" and "Crypto_Rover" see that the support level at $94,000 represents a pivot point for a healthy reset, which may prepare the market for continued rise.