🟡Bitcoin’s decline to $94,000 has intensified concerns of a deeper correction as the asset firmly slipped below the 365-day moving average — a key cyclical benchmark. This breakdown coincides with rising pressure on holders who entered the market 6–12 months ago, whose cost basis sits near current price levels.
🟡Despite the warning signs, the broader market structure still resembles a mid-cycle correction. A swift recovery above the long-term moving average would help reduce downside risks, while further deviation increases the likelihood of Bitcoin retesting support zones in the $85,000–$90,000 range.