#MarketPullback

Technically, Bitcoin has broken through the key support level at $98,750, opening up the potential for further declines towards $95,000 and $92,800. If the $92,800 level fails to hold, the price could drop to $88,000 or even $83,000. However, if Bitcoin is able to hold in the $92,800 to $95,500 range, there is a chance for a rebound. To reverse the downtrend, Bitcoin needs to return above $98,750 and break through $100,000.

Despite the decline, some analysts remain optimistic about Bitcoin’s long-term prospects, with price targets ranging from $125,000 to $1.2 million based on historical analysis.

It is important to note that such declines are common in bull markets and can be considered a healthy correction before resuming the uptrend. Investors are advised to monitor key support and resistance levels as well as monetary policy developments that could affect the price.