Odaily reports that crypto KOL Ansem published an analysis stating, "It appears that Bitcoin has broken below the support level and the trading range of the higher time frame. The key price level to maintain the bearish outlook on the higher time frame is around $96,500. It is worth noting that in this cycle, there has not yet been any breakout of the bearish range on the higher time frame, and there is currently only a downward deviation. Let's wait and see. I believe the main issue now is whether the cryptocurrency market is leading the overall market's risk aversion sentiment. If the stock indices also decline in the coming weeks, that is more likely to be the start of a downtrend, rather than a small correction in an uptrend."