Bitcoin (BTC) Price News: New Lows Below $93K, but Local Bottom Could Be Near

Bitcoin has slipped to a six-month low below $93,000, losing all its gains from 2025 and falling 27% from its October peak. The decline follows the release of strong economic data, which diminished market expectations of an impending Federal Reserve rate cut. In the face of worsening crypto sentiment, Bitcoin saw a 2.4% drop within the past 24 hours, contributing to a nearly 13% decrease over the past week. Some analysts at Bitfinex suggest that a local bottom could be forming as short-term holders capitulate. They note that historical trends indicate bottoms often form after such capitulation occurs. Additionally, the prospect of the Federal Reserve maintaining interest rates rather than cutting them further complicates market dynamics, intensifying the downward pressure on Bitcoin. Furthermore, technical analysis points to an unfilled futures gap that could influence Bitcoin's trajectory. Despite overall market downturns, some Bitcoin miners linked to AI infrastructure are experiencing gains, suggesting not all sectors within crypto are affected equally by this bearish trend.

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