Analyst: Bitcoin Remains Highly Volatile Between $85,000 and $94,000

Jinse Finance reported that bitcoin fell below $86,000 for the first time in two weeks, as the world's largest cryptocurrency further slipped into bear market territory and investor sentiment weakened. Analysts stated that bitcoin is sliding toward the lower end of its recent trading range, and every time the price rebounds, it encounters selling pressure from investors who bought near the record highs in early October. On Monday, bitcoin once dropped 3.3% to $85,578, down about 30% from its record high of over $126,000. FalconX senior derivatives trader Bohan Jiang said: "Bitcoin is still experiencing sharp fluctuations between $85,000 and $94,000, with a general lack of interest and sluggish trading volume across the entire cryptocurrency market." In recent weeks, bitcoin has declined in sync with other risk assets, but has failed to follow their rebound, breaking its usual positive correlation. Analysts pointed out that this round of decline highlights the market's pressure in an environment of weak liquidity and declining risk appetite, and even the Federal Reserve's rate cut last week failed to revive momentum in digital assets.