Bitcoin Encounters Significant Selling Pressure in the U.S., Analysts Caution About Prolonged Correction

Current Market Situation: Bitcoin has dropped below $110,000, facing significant selling pressure from U.S. investors, which analysts attribute to fading optimism for interest rate cuts and a deteriorating market sentiment.

Technical Indicators: Analysts warn of a bearish trend as Bitcoin breaks below its 200-day moving average, indicating potential for further declines, with support levels identified around $94,200.

Historical Context: Some market observers recall a similar sell-off in November 2024, which was followed by a strong rally, suggesting that the current downturn could be a necessary reset before a potential recovery.

Future Outlook: Despite the current correction, some analysts maintain a cautiously optimistic view, predicting that Bitcoin may consolidate before a renewed upward movement, with expectations of reaching $150,000 by year-end.