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Analyst: If BTC falls below $91,000, the short-term holder cost price, the Bull Market may face a test
BlockBeats news, on January 27th, CoinDesk analyst James Van Straten wrote that BTC briefly fell below $98,000 today, pulling back nearly 10% from its all-time high. Investors are starting to question whether the Bull Market will continue. Since Trump won the U.S. election, BTC has pumped from $66,000 to a new high of $109,000. During this rally, BTC has experienced two pullbacks of over 15% and several drops of over 10%. Therefore, the 10% decline this time is roughly in line with the previous pullback range. In the Bull Market, the short-term holder's cost benchmark is a reliable support indicator, representing the on-chain moving average cost of BTC in the past 155 days. Currently, this level is around $91,000, which means that if BTC falls below this level, the Bull Market may face a test.