Trader Nachi: Bitcoin has broken below the key range, and the market is unlikely to recover significantly before the end of the year.

According to Mars Finance, crypto trader Nachi stated in the latest market analysis that although Bitcoin briefly rebounded after breaking below the key level of $100,000, it subsequently lost the core pivot range again, with the overall trend remaining weak. He pointed out that the US stock market is weakened by the decline in expectations for a rate cut in December and the delayed government shutdown, with investors tending to take profits at the end of the year. Nachi believes that although there is still some downside risk in crypto assets, the market has already experienced a significant pullback, and the potential for shorting again may be limited at this time. In contrast, crypto-related stocks like Coinbase (COIN) and Robinhood (HOOD), which performed strongly before, still have the possibility of further dips, offering a better risk-return ratio, but shorting operations need to remain flexible. He suggests that investors who are not good at shorting may increase their cash position and wait for a more favorable entry opportunity, and anticipates that the overall crypto market is unlikely to show a significant recovery before the end of the year.