In the short term, BTC has a strong support at 90K-92K USD, once it is lost, it may further test around 85K-87K USD. Be alert to the panic and long liquidation caused by the exploration of this area. At the same time, the low liquidity environment during the holiday will also magnify the short-term fluctuation amplitude, and investors should do well in risk control and position management.

In the medium to long term, with the combined effect of macro interest rate cuts, the BTC halving cycle, and potential policy benefits, the market is still expected to enter a new round of uptrend. Several analysts emphasize that as long as the fundamentals do not show obvious decline, the recent pullback is more like an emotional correction of overvaluation and interest rate expectations, rather than the end of the bull market. If the downside risks are digested, there may be continued upward space in 2025, and the altcoin sector also has the opportunity to explode in market rotation.