Bitcoin Drops Below $97,000 Amid Market Pullback and Analyst Cautions

Bitcoin (BTC) experienced a decline from the $100,000 support level, falling to approximately $94,500 amid market corrections. Key points include:

BTC initially started 2025 trading around $92,000, later gaining 6.5% before falling below $97,000.
After reaching above $100,000, BTC dropped by 3% within an hour and further decreased by 2.5% to $94,500.
Analyst Ali Martinez noted that BTC breached a head-and-shoulders pattern, which raises bearish concerns and could lead to a correction towards $78,000.
There is significant demand between $95,400 and $98,400 where over 1.53 million BTC were acquired; a drop below this range may prompt selling among holders.
If BTC falls below $92,000, it may face little support until $74,000.
Martinez's technical analysis shows a potential rebound if BTC holds the $93,500 support zone, with bullish sentiment on Binance where 61.28% of traders expect price increases.
A rebound to $98,600 could trigger liquidations worth $35 million, indicating possible volatility.
BTC is currently trading at $94,500, reflecting a 3.3% daily decrease.

In summary, while there are cautious bullish indicators, current market conditions warrant vigilance regarding potential downward movements.