$BTC Bitcoin has faced significant downward pressure, recently touching a six-month low near $96,000. This marks a sharp correction from its all-time high of approximately $126,000 set in October, driven by a shift in macroeconomic sentiment and technical breakdowns.

The primary catalyst is fading optimism for a near-term U.S. Federal Reserve interest rate cut, which has soured risk appetite across markets. Concurrently, on-chain data reveals substantial profit-taking by long-term holders, creating persistent selling pressure.

Technically, BTC has broken key rising support channels. The critical level to watch is the $92,000 support zone. A decisive break below this could trigger further declines, while holding above it may establish a base for a potential consolidation or recovery phase. The market now awaits clearer macro signals. $BTC