Bitcoin Price Drops Below $89,000 as Rally Fails, BTC Market Analysis

Bitcoin (BTC) has experienced a significant pullback, falling below the $89,000 mark. The decline follows a failed attempt at a recovery rally during Wednesday afternoon trading. This price action highlights ongoing volatility and selling pressure in the cryptocurrency market. Analysts are monitoring key support levels as traders assess the momentum shift. The retreat from higher levels suggests that bullish momentum has temporarily faded, leading to a consolidation phase. Market participants are now watching for the next major catalyst that could drive Bitcoin's price direction.