Analyst: BTC has technical bearish signals, the next low may be around $88,000

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ODAILY
01-13
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Odaily report: Senior foreign exchange analyst piotr matys of Intouch Capital Markets said that Bitcoin may have now formed a so-called head and shoulders pattern, indicating that the trend is shifting from bullish to bearish. Matys said that a break below the $91,600 level, which is seen as a major support, indicates "a strong technical bearish signal for Bitcoin". FxPro's chief market analyst Alex Kuptsikevich added that if the bearish sentiment prevails, Bitcoin's next downside target could be around $88,000, and it could also quickly rebound to around $74,000 from there. Last year, the debut of a US ETF directly linked to Bitcoin, as well as the president-elect Trump's outspoken support for the digital asset industry, propelled Bitcoin to a new all-time high. However, this optimism has somewhat faded in 2025, with some analysts saying traders are awaiting certainty after Trump's inauguration on January 20th. (Jinshi)

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