Analysts: October's "failed project" puts Bitcoin at a critical turning point.

According to Odaily Odaily, Vetle Lunde, Head of Research at K33, stated that the October "bottoming out" has brought Bitcoin to a critical turning point. Over the past week, Bitcoin has fallen 10%, once again dropping below the $100,000 mark. Following the recent Federal Open Market Committee (FOMC) meeting, Bitcoin may fall further. Although the Fed cut interest rates by 25 basis points at the meeting, the cut was still significant due to policy uncertainty stemming from the US government shutdown. Furthermore, K33's derivatives market indicator (which compares the current market structure to historical cycles) shows the market exhibiting both bottoming patterns and early-stage decline characteristics, exacerbating the uncertainty. (The Block)