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

Bitcoin fell to a fresh six-month low below $93,000, erasing all its 2025 gains and dropping 27% from its October record high. This decline was exacerbated by stronger-than-expected economic data which fueled expectations that the Federal Reserve will maintain interest rates, rather than cut them in the upcoming meeting. BTC dropped to $92,500, down 2.4% in 24 hours and nearly 13% over the past week. Despite widespread bearish sentiment across crypto-related equities, some analysts from Bitfinex suggest that a local bottom may be forming as short-term holders capitulate. They observed that the pace of realized losses is stabilizing, which could indicate an impending rebound. Additionally, technical indicators reveal that unfilled gaps from previous trading periods may attract further downward pressure. The recent market behavior, including the drop in equities linked to digital assets, points towards an ongoing struggle within the crypto space. However, there are signs that accumulation of Bitcoin by larger holders is occurring amid the market weakness, suggesting a potential shift in sentiment may follow soon.

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