Bitcoin (BTC) Price News: New Lows Below $93K, but Local Bottom Could Be Near, Analysts Say
Bitcoin fell below $93,000 amid broader crypto weakness, but analysts suggest a local bottom may be approaching as selling pressure stabilizes.Summary
Bitcoin experienced a decline, falling to a six-month low of $92,500, erasing its 2025 gains and dropping 27% from its record high. This downturn extends a multi-week retreat driven by deteriorating crypto sentiment, impacting related equities like Coinbase and MicroStrategy. Ether also saw a decrease, hovering above $3,000. However, some Bitcoin miners focused on high-performance computing and AI infrastructure, such as Hive Digital, saw gains. Analysts at Bitfinex suggest that the stabilization of realized losses indicates a potential near-term low, as historical patterns show bottoms forming after short-term holders have taken losses. The diminishing chance of a Federal Reserve rate cut and a technical gap in Bitcoin futures also contribute to the current market dynamics, but a local bottom could form relatively soon.
(Source：CoinDesk)