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FxPro's chief market analyst, Alex Kuptsikevich, mentioned that the recent deep correction of Bitcoin could be attributed to other factors. The easing geopolitical tensions between Lebanon and Israel have weakened investors' demand for safe-haven assets like Bitcoin. In addition, Matt Mena, a crypto research strategist at 21Shares, said that such corrections have also occurred at previous highs of Bitcoin. He explained: "In March this year when Bitcoin was hovering around its historical high of $69,000 in 2021, a similar pattern had emerged.  Bitcoin hovered around this price for nearly seven days before finally breaking through... When the price approached this level, many participants from the previous cycle began to take profits because they anticipated a possible correction."

21Shares' crypto research strategist Matt Mena pointed out that the next key support level below $90,000 is $87,000. Standard Chartered Bank predicts that Bitcoin may rebound after falling to this level. Matt Mena expects Bitcoin to bounce back by the end of the year because the US holiday season could push Bitcoin up to a range of $110,000 to $120,000. "During holiday gatherings, investors often share their enthusiasm for Bitcoin and cryptocurrencies with family and friends, discuss their returns and show profit and loss situations... This can stimulate curiosity and interest, attracting new investors into this field. We have seen this happen many times in recent years." (businessinsider)