Recently, the price of Bitcoin has been under pressure for several consecutive days, causing market sentiment to fall into a slump. After several days of decline, Bitcoin experienced a sharp drop again near the $100,000 mark. Especially after falling for three consecutive days, on Thursday, the price of Bitcoin once dropped to $91,700, setting a new low in recent times, attracting significant attention from investors and market analysts. The reasons for this wave of price correction are complex and varied. First, the uncertainty of the global economy and fluctuations in financial markets have had a significant impact on the cryptocurrency market. Secondly, changes in regulatory policies and strengthened regulatory measures have made market sentiment more cautious, leading investors to doubt Bitcoin’s prospects. Furthermore, technical selling pressure in the market and large-scale capital withdrawals have further intensified the downward pressure on prices.

The sharp drop in Bitcoin's price not only affects short-term investor confidence but also raises concerns about the overall cryptocurrency market. In this price correction, many investors who were originally optimistic about Bitcoin are starting to reassess its investment value. Some analysts believe that the rapid rise in Bitcoin may carry a certain bubble, while the current decline is a natural adjustment of the market. However, there are also optimistic voices pointing out that short-term fluctuations do not represent long-term trends, especially against the backdrop of Bitcoin's gradually recognized positioning as digital gold and a safe-haven asset, its long-term value is still viewed positively.

From a technical perspective, after Bitcoin’s price broke below the $100,000 mark, the market's support and resistance levels became the focus of attention. Some analysts believe that $91,700 may be a short-term support point, but whether the market can stabilize still needs to be observed based on whether it can attract enough buying interest. If the price continues to decline, it may further challenge more technical support levels, leading to more selling by investors.

Overall, although Bitcoin faces significant downward pressure in the short term, its unique position and potential as a digital currency have not changed. Investors need to pay more attention to risk control and long-term perspectives when facing the current market fluctuations, operate cautiously, and avoid blindly following trends. For long-term investors, this may be an opportunity to reassess market dynamics and adjust investment strategies.