Trader Nachi: Bitcoin breaks below key range, market unlikely to see significant recovery before year-end.

According to Mars Finance, crypto trader Nachi stated in his latest market analysis that although Bitcoin rebounded briefly after falling below the key $100,000 level, it subsequently broke below its core support level again, and the overall trend remains weak. He pointed out that the US stock market's momentum has weakened due to the decline in expectations for a December rate cut and the postponement of the government shutdown, with investors inclined to take profits at the end of the year. Nachi believes that although crypto assets still face some downside risks, the market has already experienced a significant correction, and shorting at this point may have limited upside potential. In contrast, previously strong crypto-related stocks such as Coinbase (COIN) and Robinhood (HOOD) still have the potential for further declines, offering a better risk-reward ratio. However, short requires flexibility. He suggests that investors who are not skilled at short should increase their cash positions and wait for a more favorable entry point, and predicts that the overall crypto market is unlikely to see a significant recovery before the end of the year.