Analyst: If Bitcoin Fails to Hold $90,000 Support, Further Downside Could Be Seen in the Short Term

BlockBeats News, January 9th, according to Cointelegraph, Bitcoin fell to an intraday low of $92,500, with analysts warning that if the $90,000 support level is not held, the price may continue to decline in the short term.

Biyond co-founder Burkan Beyli stated in an interview, "If Bitcoin falls below $94,000, then the next target is to drop to $81,000 within five weeks. To achieve this bearish scenario, Bitcoin would need to close below $95,180 next week. Shorts may take action when CPI data is released. Overall, I am bearish on cryptocurrency in the short term (4 to 5 weeks), but bullish in the long term, as I expect a correction in the DXY after Trump takes office."