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

Bitcoin reached a new six-month low below $93,000, erasing all of its gains from 2025 and falling 27% from its October record high. This decline is attributed to worsening crypto sentiment and stronger-than-expected economic data impacting expectations for Federal Reserve rate cuts. BTC's price dropped to $92,500, a 2.4% decrease over 24 hours and nearly 13% over the last week. Analysts from Bitfinex suggest a local bottom might be approaching as short-term holders begin to capitulate. In the broader market, major crypto-related equities suffered losses, while bitcoin miners linked to high-performance computing showed some resilience, with Hive Digital posting a 10% gain. The latest data from the New York Federal Reserve indicated an unexpected improvement, further solidifying the case for the Fed to maintain interest rates, impacting market behavior. As the market nears a potential bottom, analysts noted that sustainable recoveries occur after short-term holders have sold their assets at losses, a pattern that seems to be repeating.

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