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

Bitcoin (BTC) has dropped to a six-month low below $93,000, erasing its gains for 2025 and falling 27% from its October record. This decline has been exacerbated by unfavorable economic data that has diminished expectations for a Federal Reserve rate cut. Analysts from Bitfinex suggest a local bottom may be forming as short-term holders capitulate, stabilizing realized losses. The sentiment in the crypto market remains bearish, also affecting major related equities, including Coinbase and Galaxy. Meanwhile, Bitcoin's futures on the Chicago Mercantile Exchange show gaps that may put downward pressure on prices. Despite these challenges, some analysts indicate that a rebound could occur soon, as historical patterns suggest bottoms form after significant capitulation from short-term investors. The broader context includes ongoing volatility that impacts not just Bitcoin but the wider cryptocurrency market, stressing the importance of market sentiment and macroeconomic conditions.

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