Bitcoin Slides Under $95K as Analysts Warn a Bear Market Regime Is Taking Hold
Bitcoin’s latest downturn accelerated Friday as the world’s largest cryptocurrency dropped below $95,000, extending a month-long correction that has erased nearly a quarter of its value. The move came amid a broader market sell-off tied to uncertainty around Federal Reserve rate cuts.
Midday, BTC hovered above $96,000, but an early-session dip highlighted mounting pressure:
- ETF outflows hit their second-highest daily total of the year.
- Long-term holders continued offloading positions.
- Leveraged liquidations from last month’s sell-off still ripple through the market.
On-chain indicators tracked by several research firms now show a consistent pattern: Bitcoin is operating in a classic bear market regime, defined by weakening momentum, declining liquidity, and the absence of new marginal buyers.
With Bitcoin struggling to find support, analysts point to a key threshold: if BTC breaks $93,000, the next leg lower could unfold quickly.
Why Bitcoin Can’t Find a Catalyst
Analysts say the latest drop reflects more than technical factors — it’s a period defined by the absence of catalysts.
- The extended US government shutdown delayed spending and liquidity injections many traders expected.
- Rate-cut expectations have shifted, with increasing odds the Fed holds steady in December.
- Crypto market breadth continues to weaken, leaving Bitcoin without momentum from broader risk assets.
Some strategists argue that only a meaningful risk-off reset — a deeper pullback across asset classes — might bring valuations low enough to attract new buyers. Many are watching the low-$90K range as a zone where fresh demand could emerge.
WSA Take
Bitcoin’s slide isn’t happening in isolation — it mirrors a wider cooling in risk appetite across markets as investors reassess interest-rate expectations and liquidity timelines. Until there’s a clear macro catalyst, flows matter more than narratives.
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